Core European naphthenics markets in focus
The world is changing at a rapid pace, and Nynas is now taking strategic steps to strengthen its competitiveness in core markets. Nynas 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 will focus on four sustainability areas: sustainable products, environment and climate change, health and safety as well as people and society.
In line with the Nynas strategic choices, the Naphthenics business will refocus on a smaller profitable core business, and on developing its sustainable offering. The Naphthenics business will optimise its channel to market solutions with the objective of providing best value to its customers.
Nynas will focus its sales and marketing operations on its European Plus customers, which includes Europe, India, Middle East, South Africa and Turkey. Nynas will continue to deliver the highest quality products, supported by the highest level of customer service and support, in order to deliver value for its customers.
“We will now create a more focused and efficient business while maintaining our innovative leadership within the industry. I am convinced that a more focused company will give us the capacity to invest in what matters most for the future of Nynas and the customers in our core markets,” says Simon Day, Vice President Nynas Naphthenics.
As a result of this decision, Nynas has informed its customers in the Americas and in Asia Pacific, that it will reduce its direct sales presence focusing on selected markets and product segments. Nynas is now working with the relevant customers to achieve an orderly transition. 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 reduce direct sales to a smaller streamlined operation based in Argentina.
“Nynas remains the number one naphthenic oil producer in Europe, and we intend to maintain the leadership that we have in several market segments. With the current transformation, Nynas will become a stronger and more focused enterprise, better fit to tackle the new business realities,” concludes Simon Day.
The changes announced represent a major transformation step for Nynas, and we will keep our customers and other stakeholders updated on the progress.