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Axiall names Timothy Mann CEO and president

November 24/2015


MOSCOW (MRC) -- The board of directors of Axiall Corporation appointed Timothy Mann, Jr. as the companys president and chief executive officer, a position to which he was named on an interim basis on July 6, 2015. In addition, Mr. Mann was named to the board of directors, said Investors.

"The board completed its CEO search process and is pleased to select Tim Mann to be the president and chief executive to lead Axiall Corporation," said Axiall Board Chairman Mark Noetzel. "Tim has energized the employees and has renewed our focus on Axialls primary strategic initiatives. He has demonstrated to the board the right experience and capabilities to lead Axiall as we enhance the companys competitive position to drive shareholder value."

Axiall President and CEO Mann said, "We are strengthening the companys competitive position through improved operational reliability and a focus on cost competitiveness. Further, we continue to evaluate the alternatives for the entire portfolio of businesses and assets. I want to thank our employees for their dedication to safe operations and customer service."

Also, the Axiall Corporation board of directors declared a regular quarterly dividend of 16 cents per share of common stock. The dividend is payable Jan. 11, 2016, to shareholders of record at the close of business on Dec. 23, 2015.

As MRC informed earlier, Ineos Americas announced that it has acquired the aromatics business from Axiall Corp., a leading integrated North American chlorvinyl and aromatics manufacturer. Ineos paid USD52.4 million at closing with an additional USD10.5 million payable after closing upon satisfaction of certain conditions. The transaction became effective at the end of 30 September 2015.

Headquartered in Atlanta, Georgia, Axiall produces specialty chemicals and building products.


mrcplast.com
Author:Anna Larionova
Tags:PVC, PP, PS, PE, petrochemistry, Axiall Corporation, Ineos, USA.
Category:General News
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