Jotun Coatings Indonesia's 2016 growth target of 20%

Jotun Coatings (Indonesia) announced that it has set a 20% YoY growth target for 2016 sales growth, from 1.4 trillion rupiah to 1.68 trillion rupiah (about 840 million yuan).

In 2015, decorative coatings accounted for about 40% of Jotun Indonesia's sales, and it is one of the most important varieties. In addition, the company's products include marine coatings, protective coatings and powder coatings.

According to Eric Mallace, the company's general manager, the company still has great hopes for decorative coatings in 2016 and regards it as the primary goal of market development. It is expected that this market will grow rapidly.

In order to expand the market, the company will launch a series of new products in 2016, such as Majestic Perfect Beauty & Care, a new decorative coating, and plans to introduce new protective coatings.

In addition, the company plans to improve its services to consumers, providing retail customers with a color matching system that quickly assists in finding the right paint color to further reach consumers.

At present, Jotun Indonesia's coating product sales network has involved 614 retail stores, including the company's own stores, as well as retail networks such as Mitra 10 and Depo Bangunan. In 2016, the company plans to further increase the number of retail stores.

In 2016, Jotun plans to gradually expand its production facilities in Cikarang, Indonesia, to increase production capacity. In 2015, the plant produced about 26 million liters of paint. In 2016, its production capacity is expected to increase to 40 million liters. The annual production capacity of the plant is set at 60 million liters. In addition, the company has a powder coating plant in Legok, Banten, Indonesia. Next, Jordan plans to build another six branches in Indonesia.

According to Jotun Indonesia, the company's market share in Indonesia has reached 11% in 2015. If the target of 20% growth in 2016 can be achieved, market share is expected to increase.

In 2015, Jotun, Norway, sold a total of NO. 16.282 billion Norwegian kroner, with sales in Southeast Asia and the Pacific (SEAP) of approximately NOK 4 billion, or approximately RMB 3.2 billion.