Jotun to Start Paint Production in Algeria
Jotun Group (Norway) and Med Investment Holding Spa (Algeria) concluded and executed a partnership agreement for producing Jotun paint and coatings in Algeria through a joint venture with Technover P.
In a newly built and well-equipped factory in the district of Tizi-Ouzou, east of Algiers, the joint venture (Technover P) will produce Jotun decorative paints and protective coatings to international standards. The factory, designed by the German technology company Netzsch, has a capacity of producing locally worth 120 million USD of standard quality paint and coatings that are currently imported.
This is the first foreign direct investment (FDI) and manufacturing facility in Algeria from one of the world’s leading coatings suppliers. Jotun aims to meet Algeria’s continued growth in the construction, industrial, and oil and gas sectors.
Richard Chapman, Jotun’s Regional Director for MEIA Emerging Markets declared: “This investment shows Jotun’s long-term commitment to the Algerian market. We can now bring our clients in Algeria the highest quality, internationally approved decorative paints and protective coatings. This is in line with Jotun Group’s strategy and values and fits well with Med Investment’s long industrial experience in Algeria”.
Lies Kerrar, General Manager of Med Investment Holding, declared: “This production investment is in line with our continuous strategy and focus of developing competitive and quality-focused local production. We have successfully done that in the pharmaceutical sector by increasing significantly locally produced medicine market share. With Jotun’s high quality and technically performing products, we expect that our partnership will succeed in increasing the market share of locally produced quality and performant paint and coating.”
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