AkzoNobel Specialty Chemicals is now Nouryon
The move follows the recent acquisition of the business by The Carlyle Group and GIC
The former AkzoNobel Specialty Chemicals is being relaunched as Nouryon. The move follows the recent acquisition of the business by The Carlyle Group and GIC and marks the company’s transition to becoming an independent, global specialty chemicals leader.
“Launching our new company is a significant milestone to add to our proud history and we are all looking forward to this exciting new chapter,” said new CEO Charles W. Shaver. “We are ready to leverage our experience, global presence, and strong company culture to unleash our full potential as an independent company,” he said. “We are starting from a great position,” Shaver added. “We have a great set of businesses, leadership positions across our portfolio, long-term customer partnerships, and a dedication to continuous improvement and innovation we can leverage for further success. As an independent company we can accelerate our progress on all fronts and take our rightful place alongside other industry leaders.”
Nouryon has a history that stretches back nearly 400 years and its new name and brand identity reflect that heritage. Noury & Van der Lande was one of the first companies to realize the important role chemistry could play in everyday life; today, Nouryon is a world leader in essential chemistries used to manufacture everyday products.
“When we started developing our new name and brand we asked our employees what mattered most to them,” explained Vivi Hollertt, Chief Communications Officer at Nouryon. “Our employees are especially proud of our heritage, as well our track record of growing through partnerships, innovation, sustainability, and contributing to society. We combined all of this to create a brand identity for Nouryon which is true to who we are and helps us stand out from our competitors.”
According to the company press release, “Nouryon’s new purpose – Your partner in essential chemistry for a sustainable future – reflects this pride as well as the focus going forward. The company’s success has been built on strong partnerships and it believes that collaboration is key to future success.”
Nouryon will be working closely with customers and other partners to innovate, make strategic investments, and develop essential, sustainable solutions that meet customer needs and fuel shared growth.
A transaction with an enterprise value of EUR 10.1bn
On 1 October, 2018 AkzoNobel has completed the sale of the Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of EUR 10.1 billion.
“Today is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company, with market leading positions, strong global brands, and a clear strategy to create value for all our stakeholders. This is also an important step for the Specialty Chemicals business and I would like to take this opportunity to say thank you to our colleagues and wish them a successful future with Carlyle and GIC,” Thierry Vanlancker, CEO of AkzoNobel, stated.
Martin Sumner and Zeina Bain, Managing Directors at The Carlyle Group, added: “We are excited to invest in Specialty Chemicals and we are committed to growing the business and continuing to enhance its competitive position. Specialty Chemicals has a great heritage, a high-quality asset base and workforce, an excellent track record of innovation as well as a diversified customer and product portfolio. We look forward to working with the management team to support Specialty Chemicals as it embarks on a new phase as an independent company.”
