Jotun powder coatings eyes 15pc GCC growth
Dubai, November 30, 2010
Jotun Powder Coatings, one of the world's leading producers and suppliers of powder coatings, has announced plans to achieve 15 per cent growth in the GCC in 2011.
Part of the internationally renowned Jotun Group based in Norway, Jotun Powder Coatings UAE recently celebrated the 20th anniversary of setting up of its manufacturing facility in Dubai.
The ambitious growth target for next year in the region complements recent reports that Jotun Powder Coatings UAE maintains a 70 per cent share of the powder coatings segment in the GCC region - excluding Saudi Arabia, where the Jotun group operates another manufacturing unit based in Dammam, a statement said.
The company has witnessed increased demand from its export markets, particularly from the African markets, which represent high growth areas for Jotun Powder Coatings in the coming years.
“Bahrain is witnessing an upturn in the development and construction sector, which is ably reflected in the resumption of construction projects. This is indeed a positive development,” said Colin Wanless, managing director, Jotun Powder Coatings UAE.
The target set by Jotun Powder Coatings follows the company’s move to invest more than Dh25 million towards the expansion of facilities and the development of more production lines in its Dubai facility in 2009 and 2010.
“2010 has been a steady year for us, bringing us back on track with 10 per cent growth, brought about by the increased demand from export markets. The real challenge that we are facing, however, is with sharply increasing costs of our raw materials,” added Wanless.
Jotun Powder Coatings’ products are actively used in three core industry segments; architectural, industrial and functional.-TradeArabia News Service