Nouryon spins out Nobian and rebrands
As part of its ongoing strategy, Nouryon is to spin out its base chemicals business into a separate company called Nobian. This should be complete by early Q3. Both will remain under the ownership of the Carlyle Group and GIC and Nouryon intends to reduce its own debt with the proceeds of a planned external financing by Nobian.
Nouryon will remain active mainly in chemicals for personal care, cleaning goods, paints and coatings, agriculture and food, pharmaceuticals and building products, with about 7,900 people and sales of €3.7 billion last year. Spun off as Nobian are businesses employing about 1,600 people, with 2020 revenues of €1.0 billion.
As part of this, Nouryon has also revealed a new visual brand identity, changing key colour from orange to blue “a colour that complements our focus on science, innovation, and sustainability”, in order “to reflect our strategic direction and propel the brand forward”. This should be completely rolled out by 2022.