Nouryon said it intends to reduce its own debt with the proceeds from a planned external financing by Nobian. Describing the spin-out as “a logical next step” for Nouryon and Nobian, Charlie Shaver, chairman and CEO of Nouryon, said: “The separation will create two powerful, best-in-class companies, each owned by Carlyle and GIC, and each with a compelling and distinct strategic focus.”
Nobian regards itself as a European leader in the production of base chemicals such as salt, chlor-alkali and chloromethanes, used in industries including construction, cleaning, pharmaceuticals and water treatment. The company employs about 1,600 people and posted revenues of €1 billion in 2020.
Once separated, Nobian’s board of directors will be made up of members from Carlyle, GIC and Nouryon’s executive leadership team. Carlyle and partner GIC bought Nouryon, formerly AkzoNobel’s specialty chemicals business, for €10.1 billion in March 2018.
Anaven MCA joint venture starts production
In separate news, Nouryon and Indian chemical company Atul have started production of monochloroacetic acid (MCA) at their 50:50 joint venture Anaven in Gujarat.
The plant currently has a capacity of 32,000 t/y but there is the possibility of rapid expansion up to 60,000 t/y, Nouryon said. Atul is taking part of the MCA output to produce crop protection chemicals.
Nouryon also produces MCA in the Netherlands and China. The company expanded MCA capacity in Delfzijl, the Netherlands, late last year.
Author: Elaine Burridge, Freelance Journalist
