Jotun to Begin Paint Production in Algeria

Jotun to Begin Paint Production in Algeria Jotun Group (Norway) and Med Investment Holding Spa (Algeria), through a joint venture with Technover P, have completed and signed a partnership agreement for Jotun paints and coatings production in Algeria. The joint venture (Technover P) will produce Jotun decorative paints and protective coatings to international standards at a newly constructed and well-equipped facility in the Tizi-Ouzou region in eastern Algeria. Designed by German technology company Netzsch, the facility will have the capacity to locally produce standard-quality paints and coatings currently valued at USD 120 million and imported. This partnership represents a flagship foreign direct investment (FDI) and production facility in Algeria by one of the world's leading global paint suppliers. Jotun aims to meet ongoing growth in the construction, as well as industrial, oil and gas sectors in Algeria. Jotun's MEIA Emerging Markets Regional Director Richard Chapman said: "This investment demonstrates Jotun's long-term commitment to the Algerian market. We can now deliver the highest quality, internationally approved decorative paints and protective coatings to our customers in Algeria. This aligns with Jotun Group's strategy and values and is well suited to Med Investment's extensive industrial experience in Algeria." Med Investment Holding Chief Executive Officer Lies Kerrar said: "This production investment aligns with our continuing strategy and focus on developing competitive and quality-focused local production. We have successfully achieved this in the pharmaceutical sector by significantly increasing domestic market share. With Jotun's high-quality and technically performing products, we expect our partnership to succeed in increasing market share in locally produced quality and high-performance paints and coatings." Source