Nynas leaves Brazil
Nynas leaves Brazil, where it has operated since 1998, being the largest supplier of naphthenic base oils to the market, with the aim of redirecting almost all production capacity to serve Europe. Local operations will continue, on a reduced basis, until December 2022 to serve global customers, who will be able to import directly in the first quarter of 2023.
Nynas leaves Brazil with a history of annual sales, in the order of 45 to 50 thousand tons of naphthenic base oils and will maintain an operation in Argentina for the time being, in a very reduced form for specific customers and products.
According to company sources, Nynas’ decision to no longer have operations in South America was taken, in view of a financial and productive reorganization, by decision of the new majority shareholders, DK Partners, a global investment management company, which invests in a variety of credit and equity strategies as well as real assets.
Nynas sent a statement to its customers regarding its South American business, informing them that:
“Due to the new and varied challenges created by the changing business environment,
the complex global supply chain situation and the uncertain economic outlook, Nynas
has decided to reduce its direct sales presence in the South American market to a
streamlined operation based in Argentina.
A Nynas representative will contact you to talk through the specific details of what this
means for you as a customer.”
Yours sincerely,
Simon Day
VP Naphthenics
Nynas AB
