country report: nordic
Azlee. Given the evident benefits of acquiring a company like Chubb, does Securitas have any plans to acquire any Singaporean or Asian company in the next two years or so? Azlee says Securitas will continue to explore and evaluate the market for favourable opportunities and will not hesitate acquiring a company should they see potential. “Acquisition, as you know, has always been a strong lever for our growth within the region. Through our acquisition activities, we seek to strengthen our service offerings, accelerate innovation and meet customer demands more rapidly,” he notes. Securitas’ global standard Securitas has grown from being a local Scandinavian security company to a global security services provider with a presence in 51 countries. Its size, combined with its long heritage and experience, allows the company to specialize and build industryspecific knowledge and reduce risk for its customers. Securitas gives utmost importance to what it considers as the company’s greatest asset - the employees. While they work hard to secure peace of mind for Securitas’ customers, Azlee thinks it is important to offer them some security of their own so they offer all employees competitive wages, fair working conditions and stable employment that they can expect from a global company. Apart from Securitas, another company with a Nordic heritage also found its own niche market in Singapore and succeeded at that. Nynas, a specialty oils company, discovered how it can flourish in Asia by exploring and addressing the growing demand for oil in the region. Nynas’ specialty oils Instead of utilizing mineral oil as an energy source Nynas focuses on utilizing the special characteristics of oil in numerous application areas. Nynas products are found everywhere in society – in road surfaces, insulation for electrical transformers, car tyres, lubricants and printing ink, for example. Many of our products have a long life length exceeding 25 years. This specialisation distinguishes Nynas from most other oil companies, which are bigger and mainly use oil as an energy source in the form of petrol, diesel and other fuels. However, it should be said that we are also big – in some cases the
Mr. Pascal Verhoie, Regional Director Asia for Nynas global leader – in the specialty product areas in which Nynas operate. The success story Nynas has changed considerably since its foundation in Sweden over 80 years ago. The company began life as a Swedish oil company, manufacturing everything from petrol and diesel to heating oil and lubricants, but is now an international group with focus on specialty products in specific markets. A high degree of refining is crucial to create the specialty oil solutions required by the industry. Nynas operates refineries in Europe and the Americas. In combination with an extensive global supply network it meets global demand. Investments are continuously made to meet market demands. A new sulfur recovery unit in the Nynashamn refinery in Sweden was for example inaugurated on November 17, 2012. Pending competition approval from the European Commission Nynas will also take over parts of the Shell refinery in Hamburg, Germany and convert it into a specialty oil refinery to meet demands
from the global market – increasing the production capacity for specialty oils with close to 30%. Burgeoning oil demand The growing demand for specialty oils, especially in Asia, is coming from the increased electrification of the world. An industry where Nynas has a leading position as provider of insulating oils to transformer manufacturers and utilities. “For us it is important to be close to our markets – we do not only speak chemistry and have a deep understanding of our customers’ application areas. In most cases we also speak the local language. Creating a close, even personal, relationship with our market is appreciated and makes us different,” says Pascal Verhoie, newly appointed regional director for Nynas Naphthenic business in Asia.
“Nynas focuses on utilizing the special characteristics of oil in numerous application areas.” SINGAPORE BUSINESS REVIEW | JANUARY 2013 43