Historically high turnover for Westing
Westing continues its growth and strengthened position as one of Norway's leading suppliers of marine and industrial paints. The company has experienced a significant increase in revenue in recent years, with an increase of almost 60% from 2021 to 2023. This has resulted in total revenue of over 100 million and an annual profit of approximately 5.5 million. For the companies in Westing, these are historically good figures, and the outlook also looks promising with great activity in 2024.
Westing is a subsidiary of Kaston and is part of Teige Gruppen . The company is a consultant and supplier of paints and protection for ships and industry, and quickly grew to become AkzoNobel's largest paint distributor in Europe. Westing has warehouses in Eggesbønes and, Harstad and Denmark, as well as a sales office in Bergen. Abroad, Westing has subsidiaries established in both Denmark and Poland.
CEO, Agathe Teige Eiksund, expresses great satisfaction with the company's good development:
- Westing has a solid foundation and supplies a variety of industries and vessels. I find that we have shown good adaptability during downturns where we have strategically shifted focus to those industries where we have seen opportunities for growth. This has enabled us to maintain a strong position in the market. Many choose a business model with a focus on centralization and efficiency, but Westing will continue with a strong customer focus where we will continue to work hard to be available and have efficient logistics along the entire coast, says Teige Eiksund.
The outlook for 2024 also looks positive for the company:
- There is generally good activity at the shipyards and we have a good order backlog where we deliver paint specifications for both maintenance projects and newbuildings. We also follow our customers as advisors for newbuildings abroad, and secure deliveries from Akzo Nobel's worldwide network. In the first half of the year, we are ahead of our sales budget, so it bodes well that we will be able to maintain good momentum going forward, says Teige Eiksund.
Westing sees opportunities for further growth, and is expanding with more new hires in the coming time.
- We have several new hires just over the summer, and are constantly looking for strengthened expertise and wise minds who can help us move forward. We will continue to attract and develop skilled employees, concludes Teige Eiksund.