Nynas news

19.01.2021 13:01

Nynas reorganisation completed

Today, the decision to adopt Nynas composition from 30 November 2020 became final in Södertörn District Court. This means that Nynas company reorganisation is formally completed and that Nynas creditors will be paid in accordance with the composition agreement.

Today, Nynas company reorganisation was formally completed as a decision in the Court of Appeal has gained legal force. This means that the agreed composition is now legally binding and that Nynas creditors will be paid according to the agreement.

“We have managed to find a solution for a very complex situation, we have achieved a composition agreement with the creditors and come out as a stronger company with 5-year secured financing and a strong balance sheet,” says Bo Askvik, Nynas President & CEO.

Nynas is not any longer restricted by the reorganisation regulations and can again hedge oil prices and currency exposures.

“We are well positioned to build on our strengths and to embark on the growth path we have planned for. We will vigorously move forward and continue to develop our business in all our global markets. We are ready to take back lost market share and more,” says Bo Askvik.

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