Energia
Bitumina Industries Ltd becomes a significant shareholder in Nynas AB
Bernd Schmidt , Executive Chairman of Bitumina commented: "We take great pride to have been able to acquire the shares in Nynas from Neste and are certain that this step will pave the way for a successful future of Nynas and all of its stakeholders."
Nynas is a natural expansion of Bitumina's portfolio and will ensure the group takes a top position in European bitumen markets complementing the already strong presence in Latin America . The acquisition is in line with Bitumina's successful vertical integration of products and services offered to global clients.
The Bitumina Group is a global vertically integrated specialty Bitumen company, also involved through its fully owned Danish subsidiary DenimoTech A/S in the Production and Engineering of Bitumen process plants. Bitumina is an offspring of a German Asphalt Family and is today run by the third generation and has expanded its business successfully on a global scale, being a disruptor in the markets it operates in.
Nynas is currently in an ongoing reorganization process and BITUMINA is engaged with all major stakeholders to reach a voluntary composition agreement and has for this purpose substantial financial backing to be able to execute a timely deal.
AXIS Strategic Partners with its team of professional bankers together with law firms ReedSmith LLP in the UK and DELPHI in Sweden are advising BITUMINA on the transaction.
*number rounded to ones