Nynas intends to close its Nynas NV Continental Europe bitumen business
Today, Nynas announced that it intends to close its Nynas NV Continental Europe bitumen business in early 2015.
This announcement comes after Nynas has had problems with the profitability in the Continental bitumen market for many years. The improvement initiatives taken in recent years have not generated a sustainable and profitable business case.
In the Bitumen Continental business 40 – 45 employees could be affected. A consultation process with the unions and the employee representative body has been initiated. Provided the decision is taken to proceed to a closure, Nynas’ aim is to as far as possible mitigate the negative consequences for the affected employees.
Nynas’ bitumen business operated out of its other refineries and depots in the UK, as well as in Northern and Eastern Europe, is not affected.
For further information please contact:
Hans Östlin
Communications Director Nynas AB
E-mail: hans.ostlin@nynas.com
Tel: +46 (0)708 93 19 75
Kurt Wynendaele
Business Area Director Bitumen Continental
E-mail: kurt.wynendaele@nynas.com
Tel: +32 477 580 593
The information is submitted for publication on 9 September at 11:10 CET.
Nynas is a different kind of oil company
Our business is specialised oil applications – we use oil to create sustainable value. Within our field of specialisation, we’re a world leader. We have 950 employees; we maintain production facilities in Europe and South America and have offices in more than 30 countries. All this generates approximately € 2.2 billion in turnover. We collaborate with our customers to continuously improve their products and processes through the unique properties of our specialty oils. That’s what we call – Taking oil further.