COSCO (H.K.) GROUP

Jotun COSCO Marine Coatings (HK) Limited ("Jotun COSCO"), is a jointly controlled entity between COSCO International and the internationally renowned Norwegian coating manufacturer Jotun A/S, each owns 50% equity interest. Jotun COSCO is responsible for the production of marine coatings business, including production and sales of coatings for new ship building, dry docking and sea stock, in various regions in China. It has a manufacturing plant in Guangzhou and sales offices in places such as Shanghai, Dalian and Hong Kong.

Today, China is the third largest ship building country in the world, following Korea and Japan. It is expected that the demand for marine coatings and container coatings will increase as the production volume of ship building and containers increases owing to a surging foreign trade volume in China. Through a strong-strong cooperative relationship with Jotun A/S, Jotun COSCO will actively develop marine coatings within COSCO Group so as to expand its market share within COSCO Group and become the leading marine coatings enterprise in China.