Specialist oil company AB Nynäs Petroleum has changed its name to Nynas AB. The change of name follows a merger of the Swedish subsidiaries within the group and better reflects the company’s international character. As the name indicates, Nynas is closely associated with the Swedish city of Nynäshamn, where its refinery still plays an important role as a hub in the company’s business. Since its start in the 1920s, the company has expanded and today has operations all over the world.
“Worldwide we are already known as Nynas, and now we are adjusting the parent company’s name to better reflect our global presence,” said Hans Östlin, director of communications, Nynas AB.
Nynas has 90% of its sales and a large part of its production outside of Sweden. The company owns four refineries - two in Sweden and two in Great Britain - one of which is a joint venture. Through alliances with other specialty oil producers, Nynas controls supply points in Belgium, Switzerland, Finland, the U.S. and Curaçao. Nynas also has a network of sales offices and terminals all over the world.
In January 2008, a merger between the Swedish subsidiaries within the Nynas Group took place when Nynas Naphthenics AB, Nynas Bitumen AB and Nynas Refining AB merged with Nynas AB, all of which were subsidiaries to the parent company AB Nynäs Petroleum. The merger means that there is now only one operational Swedish company, which, according to the name change of March 3, 2008, is called Nynas AB.
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NYNÄS CHANGES NAME TO NYNAS
March 10, 2008