Nynas news

19-01-2022 09:00

Frozen debt paid in full, Nynas reorganisation effectively closed

In accordance with the agreement following the completion of Nynas company reorganisation last year, trade creditors with remaining composition claims have now been paid in full.

Nynas has today settled the payment in full to trade creditors with claims remaining, after receiving an initial payment of 100,000 SEK each following the completion of Nynas company reorganisation in January 2021. This is in accordance with the composition agreement between all creditors and as decided by the District Court of Södertörn.

“We are grateful for the cooperation, patience and loyalty that our customers and suppliers have shown following a difficult time in the company's history. Today we are pleased to announce that the payment of the remaining outstanding amounts has taken place,“ says Bo Askvik, Nynas President & CEO.

As part of the composition agreement, the banks and the largest raw material supplier jointly declared that they agreed to have their claims converted into long-term senior loans with a maturity of 5 years at the earliest and a certain part converted into subordinated hybrid instruments.

“In the reorganisation process, we managed to find a solution for a very complex situation and came out as a stronger company with 5-year secured financing and a strengthened balance sheet. We will in 2022 keep our focus on continuing to strengthen Nynas to the benefit of all our stakeholders,” says Bo Askvik.

For further information contact

Hans Östlin

Communications Director

mobile number +46 708 93 19 75
email number Send an email

Further reading

Nynas UK announce their future plans for the bitumen business in the UK

Nynas UK today announce that they will be ending the partnership with Navigator Terminals at their Teesside depot at the end of the existing contract in December 2022.

Read more about Nynas UK announce their future plans for the bitumen business in the UK

A new refinery landscape

The overall impact of IMO 2020, Covid-19 and the closure of outdated refineries has increased the benefit of bitumen expertise and specialisation. The question is who will produce bitumen in the future?

Read more about A new refinery landscape

The UK’s first carbon-neutral pavement

Using cold recycling technology developed in-house, Aggregate Industries has taken a major step in the direction of more sustainable pavements.

Read more about The UK’s first carbon-neutral pavement