Wednesday,  Jun 26, 2019,17:50 (GMT+7) 0 0
Jotun to build 2nd paint plant in Vietnam
Vu Yen
Friday,  Apr 27, 2018,20:23 (GMT+7)

Jotun to build 2nd paint plant in Vietnam

Vu Yen

Representatives of Jotun Paints (Vietnam) and Hiep Phuoc Corp shake hands after signing a land lease contract in HCMC on April 26 - PHOTO: VU YEN

HCMC – Jotun Paints (Vietnam) will invest US$70 billion to build its second plant in Vietnam, said Johnny Kolding, general manager of the firm.

The company on April 26 signed a contract with Hiep Phuoc Corp to lease land at the Hiep Phuoc Industrial Park in Nha Be District, HCMC to develop the new facility.

Kolding said the plant will cover 10 hectares and produce decorative, electrostatic, industrial, and marine paints and that the size of the new facility will be 10 times bigger than the current factory in neighboring Binh Duong Province.

In its startup years, the new factory will be able to turn out 80 million liters of liquid paint and 10 million liters of powdered paint a year.

It will be designed and built in line with Leadership in Energy and Environment in Design (LEED) international standards. The plant will be equipped with solar power systems to minimize power consumption.

Jotun A/S is among the top paints and coatings manufacturers in Norway, which produces four major high-class products namely decorative, electrostatic, industrial, and marine paints. Jotun entered the Vietnamese market in 1994 and its first plant was put into operation four years later.

In 2004, Jotun expanded the plant by investing in advanced technology and increasing its capacity to 13 million liters of paint a year. In 2013, it injected an extra US$8 million into its Vietnam operations, increasing its total investment pledge in the country to US$16.1 million.

In 2016, it further increased its yearly capacity to 30 million liters of paint and now 45 million liters.

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