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Jotun decides future of polyester resin business
Jotun decides future of polyester resin business THE FUTURE of Jotun’s polyester business was scheduled to be decided at a board meeting on 19 June (after this issue went to press). Jotun says that as an integral part of its strategic process various ownership options are currently being examined for Jotun Polymer. One option is for the division to have completely new owners, while other possible paths would be to continue as before, acquire other companies in the same market or work out optimum forms of cooperation and suitable strategic alliances. There is no possibility that the
business will merely be closed, says Jotun. The firms adds that it is in contact with several prominent companies in the unsaturated polyester (UP) field in Europe and the USA who are interested in taking over the ownership of Jotun Polymer. The background to the assessment evaluation process of Jotun Polymer is the considerable amount of restructuring currently taking place in the European polyester and paint industry. Jotun claims to be one of the three leading companies in the UP field and says that it is important for the future of the company to
maintain its position of strength within the industry. The firms adds that it is uncertain whether Jotun can participate in the restructuring of the UP industry in Europe without outside assistance. “It should be emphasized that no decisions regarding a sale have yet been taken. At this moment we are carrying out a process of evaluation whose outcome is by no means clear,” says president and chief executive officer (CEO) Gunnar Hjartland. “However, we have decided to release information regarding what we are doing rather than keep out staff in the
dark. We hope that by being in the open we will be able to reach better conclusions and reduce staff uncertainty.” Discussions are being held with several companies and bids for the business are being obtained prior to the 19 June board meeting, says Jotun’s information officer Petter Christoffersen. The board will consider these bids, and a report being compiled by the administration of the Jotun group, before deciding whether to enter negotiations with any third party.
Petter A. Christoffersen, Jotun; tel: + 473345-
7000.
What does the future look like? We’ll give you a tour. McClean Anderson Advanced Filament Winding Systems. Truly innovative solutions designed to maximize your production potential. Explore the future of filament winding.
Division of Industrial Service & Machine, inc. Reinforced
Plastics
July/August
1997
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1 (666) 3564006 - (715) 355-3006 - Fax: (715) 359-0600 -Sales: [email protected] box %I - 300 Ross Avenue- Schofield,Wisconsin544764020 USA - www.mcclean-anderaon.com
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business will merely be closed, says Jotun. The firms adds that it is in contact with several prominent companies in the unsaturated polyester (UP) field in Europe and the USA who are interested in taking over the ownership of Jotun Polymer. The background to the assessment evaluation process of Jotun Polymer is the considerable amount of restructuring currently taking place in the European polyester and paint industry. Jotun claims to be one of the three leading companies in the UP field and says that it is important for the future of the company to
maintain its position of strength within the industry. The firms adds that it is uncertain whether Jotun can participate in the restructuring of the UP industry in Europe without outside assistance. “It should be emphasized that no decisions regarding a sale have yet been taken. At this moment we are carrying out a process of evaluation whose outcome is by no means clear,” says president and chief executive officer (CEO) Gunnar Hjartland. “However, we have decided to release information regarding what we are doing rather than keep out staff in the
dark. We hope that by being in the open we will be able to reach better conclusions and reduce staff uncertainty.” Discussions are being held with several companies and bids for the business are being obtained prior to the 19 June board meeting, says Jotun’s information officer Petter Christoffersen. The board will consider these bids, and a report being compiled by the administration of the Jotun group, before deciding whether to enter negotiations with any third party.
Petter A. Christoffersen, Jotun; tel: + 473345-
7000.
What does the future look like? We’ll give you a tour. McClean Anderson Advanced Filament Winding Systems. Truly innovative solutions designed to maximize your production potential. Explore the future of filament winding.
Division of Industrial Service & Machine, inc. Reinforced
Plastics
July/August
1997
F!0.
1 (666) 3564006 - (715) 355-3006 - Fax: (715) 359-0600 -Sales: [email protected] box %I - 300 Ross Avenue- Schofield,Wisconsin544764020 USA - www.mcclean-anderaon.com
q
CIRCLE
332 ON ADVERTISING
RESPONSE
CARD