Two-year anniversary with new growth strategy
Last week, Nouryon celebrated two years as a stand-alone company. During that time, it has made significant progress in driving efficiencies and increasing profitability while continuing to invest in supporting the growth of its customers. Now, the company is taking a further step to accelerate growth with a new company strategy that aims to exceed customer expectations, outgrow the competition, and increase the share of specialties in its portfolio.
“We have achieved phenomenal success during the past two years,” said Charlie Shaver, Nouryon’s Chairman and CEO. “We have set up a new organizational structure that allows our businesses, operations and functions to focus on what they do best. That new structure, combined with our continued efforts to drive efficiencies has allowed us to increase our profitability, even in the challenging business environment of today.”
The company has taken several steps to further optimize its portfolio. These include three significant acquisitions; Brazilian peroxides producer Polinox; Chinese metal alkyls maker Zhejiang Friend Chemical; and the carboxymethyl cellulose (CMC) business of J.M. Huber, along with the divestment of its Elotex business. It has also continued investing to support the growth of its customers, with more than 20 capacity expansion projects announced or completed and the introduction of 20 new products with clear sustainability benefits.
“We are now ready to take the next step in our growth journey with a new strategy that will target the most attractive growth sectors and increase the focus on key emerging markets,” Shaver said. “With this stronger market focus, we want to transition from being an ingredient supplier to a true solution provider to our customers. At the same time, we will continue to execute successfully on the cost and productivity initiatives that will enable us to keep growing profitability.”
Home and personal care in the focus
The new strategy will increase the focus on the following four segments: Agriculture, Buildings & Infrastructure, Cleaning goods and Personal care, as well as on emerging markets including China, Southeast Asia and India. Plans include growing in new applications and geographies through M&A and partnerships; further expanding the company’s sustainable product offering; and maximizing capacity utilization and flexibility of its manufacturing plants.