Swedish specialty chemicals company Perstorp is reorganizing its business to support future growth plans and enhance its internal integration. The move will result in the loss of 56 jobs –32 in Sweden and 24 outside.

The company said it will restructure operations into three business segments: specialty polyols & solutions; advanced chemicals; and animal nutrition. In addition, it will merge its supply chain and operations divisions into a single unit.

“The new organization makes us more agile and puts us in a better position to respond to our customers’ needs,” said Perstorp’s CEO Jan Secher. “It will promote cross functional excellence, simplicity and efficiency across out internal value chains, but cost savings will of course also be important in times with a volatile business environment and signs of a downturn in the global economy. Our focus remains firm; to capture the opportunities ahead for volume and margin growth in niches where we are leaders.”

The announcement is part of Perstorp’s ongoing transformation and follows the recent sales of its Capa and BioProduct businesses, which the company said would strengthen its balance sheet and unlock resources for future investments.

Perstorp agreed last December to sell its Capa business to US specialty chemicals and materials manufacturer Ingevity for about €590 million. Last November, the company said it was selling its BioProducts arm, a major Scandinavian producer of biodiesel and glycerine, to an unnamed Swedish investor together with a member of the BioProducts management team.

New owners Landmark Partners and other co-investors pledged last year to invest around €130 million in Perstorp to fund future growth. The US private equity group took over Perstorp from French investment firm PAI Europe last September.

Perstorp has identified several growth areas with strong future potential. These include strengthening its leadership position in the polyols market, boosting adoption of its Pevalen phthalate-free plasticizer, expanding its portfolio and market presence in animal nutrition and establishing its range of products based on renewable raw materials.