MOSCOW (MRC) -- Dr. Josef Ertl retired from his role as Managing Director and CEO of Vinnolit, which is part of Westlake, effective 31 October 2015. As previously announced, beginning 1 November 2015, his successor as Managing Director will be Dr. Karl-Martin Schellerer, as per Westlake's press release.
In the future, Dr. Ertl will consult Vinnolit as a Member of the Advisory Board, supporting Vinnolit in its strategic development.
"We are delighted that Dr. Ertl will continue to support Vinnolit as a Member of the Advisory Board. During his tenure, he has helped shape and build Vinnolit into the company that we know today and we look forward to this continued partnership," stated Albert Chao, President and CEO of Vinnolit?s parent company Westlake Chemical. "We are excited about the addition of Dr. Schellerer to our team and are confident that he will make important contributions to Vinnolit's ongoing growth and development."
As MRC wrote before, in early August 2014, Westlake Chemical Corporation closed the previously announced acquisition of German-based Vinnolit Holdings GmbH and its subsidiary companies from Advent International, a private equity firm. The Vinnolit acquisition includes six production facilities located in Burghausen, Gendorf, Cologne, Knapsack and Schkopau in Germany and Hillhouse in the United Kingdom. These operations have a combined annual capacity of 780 thousand metric tons of PVC, including specialty paste, thermoplastic specialties and suspension grades, 665 thousand metric tons of vinyl chloride monomer and 475 thousand metric tons of membrane grade caustic soda. Vinnolit has world class technical centers including a research and development facility in Gendorf and an applications laboratory in Burghausen.
With an annual capacity of 780,000 metric tonnes (1.7 billion lbs) Vinnolit, a Westlake company, is one of the leading PVC producers in Europe and, worldwide, is the market and technical leader in specialty PVC. Vinnolit produces and markets a wide range of PVC products covering all kinds of PVC applications, e.g. in the building & construction sector, in the automobile industry or in the medical sector. Whether the PVC is for flooring, wall covering, window profiles, pipes, rigid film, technical coatings, automotive sealants, cable sheathing or medical applications, Vinnolit is able to offer a suitable solution for all demands. Additionally Vinnolit produces and markets intermediates such as caustic soda, vinyl chloride and tin tetrachloride, which are required in the chemical industry as well as in many other branches.
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe and specialty components, windows and fence.
MRC