Nynas to focus on European markets

Nynas to focus on European markets

Chemical firm Nynas says it is now taking strategic steps to strengthen its competitiveness in core markets. It will create a business footprint focusing on customers in the naphthenics and bitumen market in Europe, and significantly improve efficiency to deliver a competitive customer experience. Furthermore, Nynas says it will focus on four strategic sustainability areas: product development, environment and climate change, health and safety as well as people and society.

As a market leader, Nynas is constantly monitoring the changing dynamics and the outlook of the naphthenics and bitumen businesses, and now is the time to start a strategic transformation of the company to ensure a sustainable and profitable future and becoming the essential European provider of infrastructure and clean energy solutions for the transition to a sustainable society.

“The new Nynas will be more customer-centric, adapting and tailoring production capacity to the markets we serve. Since we will be closer to our key customers, they can count on us for their future supply,” says Stein-Ivar Bye, Nynas Chairman.

Nynas will transform its business model and become a more efficient organisation, focusing on profitable markets and selected product segments. Direct sales activities will be concentrated on core markets in Europe and selected other markets and segments.

“After nearly 100 years of deep experience in the market and recent years of volatility, the next innovative chapter includes being the first-choice partner for our customers, focusing on key business areas, and driving the sustainability of societies,” comments Stein-Ivar Bye.

In the Americas and in Asia Pacific regions, Nynas will target its direct sales presence focusing on selected markets and product segments. In the Asia Pacific region Nynas will centralise and create a more efficient operation based out of the Singapore office, and in the Americas, Nynas will focus direct sales to an efficient streamlined operation based in Argentina.

In the Nordics, the Baltics and the UK, Nynas will create a more efficient operation based on high-performing products and an optimised supply network. Customers within these prioritized markets will continue to be supported by local Nynas representatives.

“The planned and announced changes represent a major, strategic and exciting transformation journey for Nynas which will strengthen our business and respect as we transform over the coming years. We will continue to work closely with our customers and other stakeholders as we progress our transformation,” ends Stein-Ivar Bye.