Paint manufacturer Jotun expects a slightly lower result for 2003 than the year before. That is mainly due to a weak home market as well as in Europe, according to the latest financial statements from the group.
The paints division has however performed well in South East Asia. On the other side has its powder coatings business been affected by relocation of its more mature industrial customers from Japan, Singapore, and Malaysia to China and Vietnam where costs are lower.
One of Jotun’s larger investments 2003 was in a new factory in Vietnam, a plant that is up and running now.
