Nordic Waterproofing has taken note of information in the media that Nynas AB (publ) today has filed for company reorganisation. Nordic Waterproofing's initial assessment is that Nynas decision does not affect Nordic Waterproofing's operations.
The management of Nordic Waterproofing has for a long time monitored the development of Nynas, an important supplier of bitumen, a raw material used for several of Nordic Waterproofing's key products. The Group has chosen to increasingly supplement with more suppliers to secure deliveries of bitumen in the event that Nynas could no longer fulfill its commitments.
"We have been monitoring the development of the political situation in Venezuela and the potential effects the US regulations on oil product exports could have on our main supplier of bitumen. We have planned for a situation like the one that has now arisen," says Martin Ellis, President and CEO of Nordic Waterproofing Holding A/S. "Our production is limited during the winter period and the current assessment is therefore that the Group's operations will not be affected as a result of Nynas' decision."
The information was submitted for publication, through the agency of the contact person set out below, on December 13, 2019, at 6.30 p.m. CET.
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