Comment on the effects of the oil company Nynas’ decision to file for company reorganisation
Nordic Waterproofing has taken note of information in the media that Nynas AB (publ) today has filed for company reorganisation. Nordic Waterproofing’s initial assessment is that Nynas decision does not affect Nordic Waterproofing’s operations.
The management of Nordic Waterproofing has for a long time monitored the development of Nynas, an important supplier of bitumen, a raw material used for several of Nordic Waterproofing’s key products. The Group has chosen to increasingly supplement with more suppliers to secure deliveries of bitumen in the event that Nynas could no longer fulfill its commitments.
“We have been monitoring the development of the political situation in Venezuela and the potential effects the US regulations on oil product exports could have on our main supplier of bitumen. We have planned for a situation like the one that has now arisen,” says Martin Ellis, President and CEO of Nordic Waterproofing Holding A/S. “Our production is limited during the winter period and the current assessment is therefore that the Group’s operations will not be affected as a result of Nynas’ decision.”
The information was submitted for publication, through the agency of the contact person set out below, on December 13, 2019, at 6.30 p.m. CET.
For further information, please contact:
Jonas Olin, CFO and investor relations
Telephone: +46 708 29 14 54
E-mail: jonas.olin@nordicwaterproofing.com
Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland and through part-owned franchise companies in Denmark. The Company markets its products and solutions under more than ten brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett, SealEco, Distri Pond, SPT-Painting, Taasinge Elementer, RVT and Veg Tech. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.
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