Nouryon announces intention to spin-out Nobian
Nouryon announced on 6 May 2021 its intention to spin-out its base chemicals business, Nobian, into a separate company that will remain under the ownership of Nouryon’s equity owners, The Carlyle Group and GIC. The separation is expected to be completed by early Q3, When completed, the transaction will result in two separate companies, each well positioned for growth in their respective focus areas:
- Nouryon, providing personal care, cleaning goods, paints and coatings, agriculture and food, pharmaceuticals, and building products. The company employs about 7,900 people (excluding Nobian) in over 80 countries and had revenues in 2020 of €3.7 billion.
- Nobian, a producer of base chemicals for industries ranging from construction and cleaning to pharmaceuticals and water treatment. The company employs about 1,600 people and had revenues in 2020 of €1.0 billion.
Following the intended separation, Nobian’s Board of Directors will be comprised of members from Carlyle, GIC and Nouryon’s executive leadership team. Nobian will continue to pursue its current strategic path as it evolves to a stand-alone company. To help ensure a seamless transformation, Nouryon will provide transitional support services across multiple functional areas. Click here for more information.