Norway-based global paint and coating maker Jotun A/S has sealed a strategic partnership agreement with a major Vietnamese real estate firm Nam Long Investment, gearing up to supply products in the emerging economy in Southeast Asia.
Jotun Paint Vietnam Co., its local arm, will supply quality interior and exterior paint products for major real estate projects undertaken by Nam Long Investment Joint Stock Co., according to a report by local Dautu Online.
The move is a sign of Jotun’s commitment to investing in Vietnam for the long term, the report said.
The Norwegian company, which has 37 production facilities and a presence in more than 100 countries around the world, sells decorative paints and marine, protective and powder coatings.
Nam Long, whose total assets are valued at around $468 million, has various partners for its office, housing and commercial property projects.
Major Japanese developer Hankyu Hanshin Properties Corp. has taken on five condominium complex projects with Nam Long in Ho Chi Minh City, according to the Osaka-based company.