JOTUN INVESTS P1-B IN PH

Jotun, a Norwegian paint conglomerate, opened its manufacturing facility recently in the industrial area of Sto. Tomas, Batangas.

The 7-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, Jotun Philippines Inc. general manager.

According to Solomakos, Jotun has investments of more than P1 billion including infrastructure, job generation and land acquisition.

“It's high time for Jotun to open its own factory since it has been operating here for more than 30 years," Jotun board chairman Odd Gleditsch D.Y. said.

"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 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 ChargeD’Affairs of the Norwegian Embassy.

Jotun is a Norwegian multinational privately owned paint company incorporated in 1926. It has established 40 production facilities, 63 companies, and is represented in over 100 countries across all continents.

Jotun Philippines Inc. became fully operational in 2011 with offices in Sucat, Paranaque and in Mandaue, Cebu.