Amsterdam - The former AkzoNobel speciality chemicals business Nouryon, has completed the carve-out of its base chemicals business, Nobian, into a separate company remaining under the ownership of Nouryon’s equity owners, the Carlyle Group and GIC.
Following the separation, Nouryon remains a speciality chemicals company supplying solutions for manufacturing everyday products including personal care, paints and coatings, and building products, a company statement said 1 July .
The streamlined company employs 7,900 people in over 80 countries and posted sales of €3.7 billion in 2020.
“This is an important milestone, positioning Nouryon as a global speciality chemicals leader,” said Charlie Shaver, chairman and CEO of Nouryon and chairman of Nobian.
Among others, Amsterdam-based Nouryon manufactures essential ingredients to produce all types of thermoplastics, rubbers, and thermoset composites to improve their properties and add functionalities and performance.
Also headquartered in Amsterdam, Nobian’s portfolio includes products such as salt, chlorine, caustic and chloromethanes. The company employs 1,600 people and had sales of €1 billion last year.
Following the transaction, Nouryon said it repaid € 1.5 billion of its debt with the proceeds of a completed external financing by Nobian.