Nouryon has announced 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, following the receipt of all relevant approvals, including final Board approval.
The transaction will result in two separate companies, positioned for growth in their respective focus areas. Nouryon provides sustainable solutions for manufacturing products including cleaning goods, paints and coatings, agriculture and food, pharmaceuticals, and building products. Nobian will focus on the production of base chemicals for industries ranging from construction and cleaning to pharmaceuticals and water treatment.
“In 2020, Nouryon announced a new company strategy to grow our leading positions and exceed our customers’ expectations by delivering innovative, sustainable solutions that meet society’s everyday needs. This intended spin-out is a logical next step for Nouryon and Nobian,” says Charlie Shaver, Chairman and CEO of Nouryon. “The separation will create two powerful, best-in-class companies, each owned by Carlyle and GIC, and each with a compelling and distinct strategic focus.”