Jotun

Jotun suspends operations in Russia

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(Sandefjord / 03 March 2022): Jotun is deeply concerned about the unfolding conflict in Ukraine. The paints and coatings company stands fully behind the international communities’ reaction to the situation.

Because of the ongoing conflict between Russia and Ukraine, as well as the sanctions imposed, Jotun has decided to suspend its operations in Russia until further notice.

"We have been operating in Russia for a long time. We have a good team and a modern production site there. However, based on an overall assessment, we now find it both right and necessary to shut down”, Jotun’s President and CEO Morten Fon comments.

“Jotun is deeply concerned about the humanitarian consequences of the ongoing crisis”, he says.

Jotun has been present in Russia since 1989 and has had its own local production since 2017. With more than 300 employees in the country, Russia accounts for between 2 and 3 per cent of Jotun's operating revenues.

Jotun has no legal entity nor facilities in Ukraine. However, the company has four employees in the country. The safety of the employees in Ukraine and Russia is Jotun's major concern.

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Contacts

For further information:
Christian Espolin Johnson, Group Communications Director, mobile +47 976 45 494, christian.espolin.johnson@jotun.no

About Jotun

Jotun
Jotun
Hystadveien 167
3209 Sandefjord

http://www.jotun.com

Jotun is one of the world's leading manufacturers of decorative paints, marine, protective and powder coatings. The Group has 67 companies and 39 production facilities on all continents, and over 10 200 employees. Jotun products are available in more than 100 countries through own subsidiaries, joint ventures, branch offices, dealers and distributors. The Jotun Group’s sales in 2021 was NOK 22.8 billion. The Jotun Group is organised into four segments and seven geographical regions, and has its head office in Sandefjord, Norway.

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