The joint venture with Med Investment Holding Spa will allow Jotun to manufacture protective coatings directly in Algeria.
The Jotun Group has recently announced that it has reached an agreement with Med Investment Holding Spa for establishing the joint venture Technover P, that will manufacture paints and coatings in Algeria.
In the new site in the district of Tizi-Ouzou (east of Algiers) built by the German company Netzsch, the joint venture will produce Jotun decorative paints and protective coatings according to international standards. With this new investment, Jotun aims to satisfy the increasing demand of the Algerian construction, industrial and energy sector.
“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,” stated Richard Chapman, the regional director for MEIA Emerging Markets at Jotun.
“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,” concluded Lies Kerrar, the general manager of Med Investment Holding.