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Jotun invests over a billion pesos in the Philippines
Norwegian paint conglomerate Jotun is aiming to conquer the Philippines market with the recent opening of its manufacturing facility in bustling Batangas Province.
Situated in the industrial area of Sto. Tomas, Batangas, the seven hectare plant and main office will house more than 70 employees and will manufacture its own paint products.
“This is a momentous occasion for Jotun. This is the start of our major presence in the country and will strengthen our already robust trade and political relationships with Filipinos. We also aim to help the region of Batangas by offering employment to the locals,” says Stamatis Solomakos, the General Manager of Jotun Philippines Inc.
According to Solomakos, Jotun has investments of more than 1 billion pesos including infrastructure, job generation and land acquisition.
Chairman of the Board in Jotun, Odd Gleditsch D.Y. says, “It’s high time for Jotun to open its own factory since it has been operating here for more than 30 years. The Philippines market is important for us because we see good growth prospects in the future especially with the steady increase of investments in business areas where Jotun is relevant such as infrastructure and energy,” he added.
The plant is specifically located in the Light Industry and Science Park III, an industrial and business estate and and will be inaugurated by Odd Gleditsch D.Y., the Governor of Batangas, and the Charge D’Affairs of the Norwegian Embassy.
The launch event featured a fascinating program which was hosted by Princess Martha Louise of Norway with guest performer Alexander Rybak, 2009 Eurovision Contest winner.
Jotun is a Norwegian multinational privately owned paint company incorporated in 1926. Today it has established 40 production facilities, 63 companies and represented in over 100 countries across all continents. Jotun is ranked number 8 amongst the leading paint companies in the world.
In the Philippines, it started through an agent in 1987 then became a branch office of Singapore operation in 2004. Jotun Philippines Inc. became fully operational in 2011 with offices in Sucat, Paranaque and in Mandaue, Cebu. In 2013, it made a bold decision to invest in a local production