|
Jotun with production plant in India
06 March 2008 - Jotun's first manufacturing facility in India was opened 5th March. USD 25 million is invested in the plant located at Ranjangaon off Pune, which will have a capacity to produce up to 50 million litres wet paint and 5,000 metric tons powder coatings.
India is expected to be the second biggest paint market in Asia Pacific. Factors like the economic boom and surge in the construction and real estate markets will contribute to this growth.
Jotun has been present in India through franchises and has strengthened its presence over the last two years.
- We have closely assessed the Indian paint market and are now set with a plant of our own. We look forward to bring our global expertise and best practices along with world class products to Indian consumers. At the same time we will strengthen our dominance within industrial and marine coatings and look at capturing a market share of at least 8 per cent in our first year of operations, Claes Jansson, Managing Director, Jotun Paints India Ltd. says.
In line with Jotun's international strategies the products will only be sold through Jotun distributors and retailers providing cost effective quality solutions.
Jotun fulfills its global commitment by building a zero-emission plant with low environmental impact. The key feature is an advanced recycling process; the waste emitted by the production processes is purified and the recycled water used in the plant. In addition the plant will generate employment for 250 people.
The Indian paint industry is valued at Rs.80 billion and is growing in excess of 12 per cent per annum. The per capita consumption of paints in India is very low at 0.8 kg per annum. The industrial paint segment accounts for 30 per cent of the paint market while the decorative paint segment accounts for 70 per cent.
|
|
|
|
