Nynas has exited company reorganisation after Swedish courts confirmed the process is now complete following a creditors meeting. The court’s decision is effective 21 December 2020. After this, Nynas will no longer be limited by reorganisation regulations.
Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.
The US Treasury Department’s Office of Foreign Asset Control (OFAC) has confirmed that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB, sanctions are lifted.
Nynas is attending Tire Technology Expo in Hannover, Germany, 25-27 February 2020 where the company is showing how tyres made with Nynas oils provide “low rolling resistance, reducing energy losses and fuel consumption, while maintaining wet grip for improved control on snow and ice.” Performance of naphthenic oil in winter tyres will also be examined in a presentation by Technical Advisor Dr. Kamyar Alavi, entitled “Get a grip: performance of naphthenic oil in winter tyres.”
Swedish company Nynas is presenting its naphthenic tyre oils at Tire Technology Expo next month, and aims to convince customers and producers that tyres made with Nynas oils “provide low rolling resistance, reducing energy losses and fuel consumption, while maintaining wet grip for improved control on snow and ice.”
Nynas AB (publ) filed for “company reorganisation” in Sweden at Södertörn’s District Court today (Monday 16 December 2019). According to a company statement, Nynas’s banks have refused to continue to extend loans to the company and therefore “Nynas cannot pay due debts forcing the company to apply for a reorganisation”.
The Research Institutes of Sweden (RISE) and Swedish oil company Nynas AB are launching a joint research project aimed at developing a process for refining the oil that is recovered from end-of-life tyres using Scandinavian Enviro Systems AB’s recycling method. Through refining, the oil can be used for more than fuel, which both increases the value of the recovered oil and reduces the environmental impact.
Nynas representatives has said the company is “honoured” to have been named as one of nine suppliers selected from a global list of more than 10,000 to receive a Pirelli Supplier Award.
Nynas global president and CEO Gert Wendroth said the specialty oil company is looking to expand its footprint by setting up depots and adding employees in India, during a recent visit to the country.
Thorsten Lutze, global market manager for Tyre Oil at Nynas AB has announced that he will offer a presentation on the role and contribution of naphthenic oils in today’s global tyre market on 21 August 2014. The speech, which focuses on how naphthenic oils can help boost tyre performance, will take place at 11:40 am as part of the 8th Global Rubber and Tire Markets conference at the Meridien hotel in Jakarta, Indonesia.
Gert Wendroth has been appointed president of Nynas AB, effective 1 March 2014. He will replace Staffan Lennström who is retiring. Gert Wendroth has a thorough background in the oil industry. His latest position was as CEO of H&R AG, a German listed company operating two base oil refineries in Germany and a number of blending and filling plants for specialty products around the world. Before that he has held various management positions in the Royal Dutch / Shell Group with a strong focus on B2B sales and marketing.
Pirelli has introduced a Suppliers Awards for the first time, aimed at recognising quality, innovation and competitiveness, in addition to improving the company’s partner relationships. Inaugurating the Pirelli Suppliers’ Awards the company nominated its best suppliers of 2011, as chairman and CEO, Marco Tronchetti Provera and chief purchasing officer, Carlo Costa presided over the ceremony held at the company’s Milan headquarters.
To maintain its production of synthetic rubber after its utilisation of DAE oils ceases, Lanxess AG will enter into a strategic co-operation with Swedish oil producer Nynas. Lanxess will end the use of DAE oils in its synthetic rubber production as of December 1, 2009, ahead of next year’s European and Japanese bans on the substance.
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