History
The origins of Jotun can be traced back to a paint distributor's shop, opened by Odd Gleditsch in 1920. It was a good time for the whaling industry, and Gleditsch soon worked his way into the business of supplier to the whaling fleets in Sandefjord, Tønsberg, and Larvik.
As sales to the whaling fleet increased, Gleditsch saw the potential in manufacturing the paint as a solo trader. At Gimle, outside Sandefjord, there was an oil mill (Gimle Oljemølle A/S) which was closed due to bankruptcy – an oil mill which produced antifoulings and marine paints sold through the Gleditsch paint shop.
On 12 March 1926, Gleditsch invited shareholders to subscribe to the new company. With a share capital of NOK 60,000, Jotun Kemiske Fabrik A/S was founded, and bought the plant of Gimle Oljemølle A/S, with Odd Gleditsch as managing director. The production plant was modernised and product quality improved, all of which lead to increased sales.
Read more about this topic: Jotun (company)
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