Nynas AB Company Profile

Background

Nynas AB, established in 1928, is a Swedish specialty chemicals company specializing in naphthenic oils and bitumen products. The company focuses on transforming heavy crude oil into high-performance, long-lasting specialty solutions, serving various applications in infrastructure, electrification, and industrial sectors. With a strong emphasis on sustainability, Nynas aims to advance the transition to a sustainable society by providing products that enhance durability and reduce environmental impact.

Key Strategic Focus

Nynas' strategic focus centers on the production of specialty naphthenic oils and bitumen products, catering to niche markets with specific performance requirements. The company's core objectives include:

• Product Development: Innovating and enhancing products to meet evolving industry standards and customer needs.

• Sustainability: Developing products that contribute to environmental sustainability, such as bio-based oils and low-carbon solutions.

• Market Expansion: Strengthening its presence in the European market while exploring opportunities in other regions.

Nynas specializes in:

• Naphthenic Specialty Oils: Including insulating oils for transformers, process oils for industrial applications, base oils for lubricants, and tyre oils.

• Bitumen Products: Serving as binding agents in asphalt for road construction and maintenance.

The company utilizes advanced refining technologies and maintains a flexible feedstock strategy to ensure product quality and supply chain resilience.

Financials and Funding

In 2021, Nynas reported net sales of approximately SEK 16.7 billion and employed around 970 individuals. In June 2025, Nynas successfully issued a senior secured bond amounting to USD 380 million, which was oversubscribed, reflecting strong interest from a broad base of Nordic and international institutional investors. The net proceeds from this bond issue were utilized to refinance existing debt and support general corporate purposes.

Pipeline Development

Nynas is actively involved in developing sustainable products, including:

• Bio-Based Transformer Fluids: In 2019, the company introduced NYTRO® BIO 300X, a high-performance transformer fluid made from renewable feedstocks.

• Biobased Tyre Oils: In 2023, Nynas launched NYTEX® BIO 6200, a biobased tyre oil that has achieved high rankings in industry evaluations.

• Polymer-Modified Bitumen (PMB): In 2022, Nynas introduced a PMB containing biogenic material, reducing the climate impact of road construction.

Technological Platform and Innovation

Nynas distinguishes itself through:

• Proprietary Technologies: Advanced refining processes that enable the production of high-quality specialty oils and bitumen products.

• Scientific Methods: Utilization of catalyst and hydrotreatment technologies to enhance product performance and sustainability.

• Sustainability Initiatives: Development of bio-based and low-carbon products to support environmental goals.

Leadership Team

The leadership team at Nynas includes:

• Eric Gosse: Chief Executive Officer (CEO), leading the company's strategic direction and operations.

• Board of Directors: Oversees corporate governance and strategic decisions.

Leadership Changes

In September 2020, Nynas underwent a significant ownership change when Bitumina Industries Ltd acquired a 50% stake in the company, making it the largest shareholder. This move was part of Nynas' ongoing reorganization efforts.

Competitor Profile

Market Insights and Dynamics

The specialty chemicals market, particularly in naphthenic oils and bitumen products, is characterized by:

• Market Size and Growth Potential: A substantial and growing demand for infrastructure development and maintenance, driving the need for specialty chemicals.

• Industry Trends: A shift towards sustainable and environmentally friendly products, influencing product development and market strategies.

Competitor Analysis

Key competitors in the specialty chemicals sector include:

• Bitumina Industries Ltd: A global vertically integrated specialty bitumen company, active in over 100 countries.

• Other Regional Producers: Companies operating in the European market offering similar products, contributing to a competitive landscape.

Strategic Collaborations and Partnerships

Nynas has engaged in strategic partnerships to enhance its market position, including:

• Joint Ventures: The Eastham refinery in the UK is a joint venture with Shell, focusing on bitumen-based chemical solutions.

• Collaborations for Sustainability: Partnerships aimed at developing bio-based and low-carbon products to meet environmental objectives.

Operational Insights

Nynas' strategic considerations include:

• Feedstock Flexibility: Diversifying feedstock sources to mitigate risks associated with geopolitical and supply chain disruptions.

• Sustainability Focus: Investing in sustainable product development to align with global environmental trends and customer preferences.

Strategic Opportunities and Future Directions

Nynas' strategic roadmap involves:

• Expansion in Sustainable Products: Increasing the portfolio of bio-based and low-carbon products to meet market demand.

• Geographical Diversification: Exploring opportunities in new markets to leverage growth potential.

• Innovation in Product Development: Continuing to invest in research and development to maintain a competitive edge.