Element Solutions names new CFO

MOSCOW (MRC) -- Element Solutions Inc announced the promotion of Carey J. Dorman to Chief Financial Officer of Element Solutions, said the company.

Additionally, the Company announced it will hold an investor day on May 20, 2019 in New York City. Benjamin Gliklich, Element Solutions’ Chief Executive Officer said, "As we streamline Element Solutions into a more efficient organization, we are reorganizing to consolidate our global finance functions. In that context, I am pleased to be welcoming Carey into his new role, while also thanking his predecessor John Connolly for his significant contributions. Since 2016, John has worked tirelessly to improve our Company. He has succeeded at that task. We owe many of our best practices and successful initiatives to his leadership and the terrific team he has built. We are very thankful for John’s service to the Company."

Gliklich added, "Carey has been a strong contributor in many roles since joining in 2015. He has helped drive productive change and been a close partner to me and the rest of the executive leadership team over that time. Carey brings high-quality experience, institutional knowledge and an exciting forward vision to the CFO role. With the capable and experienced team behind him, I am confident that Carey will drive strong execution. We are looking forward to introducing you to Carey in this new capacity and our broader leadership team at our investor day on May 20."

Mr. Dorman joined Element Solutions in 2015 and has served in a number of corporate finance and other leadership roles, with responsibility for capital markets, corporate development, financial planning, investor relations and merger integration. He has served as Element Solutions’ Corporate Treasurer since February 2018. Prior to joining Element Solutions, Mr. Dorman held investment and corporate finance positions at Taconic Capital Advisors and Goldman Sachs.

In addition, the Company has made several other organizational changes in recent weeks as Element Solutions finalizes its new leadership team. These changes include the internal promotions of its new head of human resources and its chief accounting officer, among others.
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MOSCOW (MRC) -- SIBUR presented its Elastomer portfolio at the Tire Technology Expo 2019, Europe’s most significant tire manufacturing technological exhibition and conference, said the company.

Europe is a core market for SIBUR Elastomers sales as the company serves its valuable customers with wide range of products, thus, the region accounts for a half of SIBUR’s total elastomers exports.

During the exhibition SIBUR presented its new solution-styrene-butadiene synthetic rubber modification grade SSBR 2560F TDAE and poly-butadiene BRNd HV (High Viscosity) rubber. These grades were developed in joint cooperation with European tire companies aimed to provide sophisticated high-performance tires’ consumer properties currently in demand particularly by the advanced European market. The grades were widely marketed worldwide. These grades cement SIBUR’s position as one of the global leading Elastomers producers.

“The partnership with SIBUR provides European customers a variety of advantages that ensure a stable supply owing to SIBUR feedstock integration and its rich resource base, European high quality standards, a wide range of product portfolio for different applications and industries, JIT delivered from European warehouses, are the most positive experience of long-term relationships”, said Mr. Pavel Rodionov, Elastomers Sales Director of SIBUR’s Plastics, Elastomers and Organic Synthesis division.

Furthermore, corporate R&D centers and customers’ technical support services satisfy all needs of every customer.
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MOSCOW (MRC) -- Mexico will delay the construction of the Dos Bocas refinery and instead funnel the USD2.5 billion earmarked in 2019 for the project into state oil firm Pemex, Arturo Herrera, Mexico’s deputy finance minister, told the financial Times in an interview, reported Reuters.

As MRC informed earlier, this week, Mexican Energy Minister Rocio Nahle said the oil refinery that the new administration seeks to build will cost between USD6 billion and USD8 billion and could be ready in three years.

Pemex, Mexican Petroleum, is a Mexican state-owned petroleum company. Pemex has a total asset worth of USD415.75 billion, and is the world's second largest non-publicly listed company by total market value, and Latin America's second largest enterprise by annual revenue as of 2009. Company produces such polymers, as polyethylene (PE), polypropylene (PP), polystyrene (PS).
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MOSCOW (MRC) -- Total SA has restarted the gasoline-producing unit and shut the gasoline hydrotreater at its 225,500 barrel per day (bpd) Port Arthur, Texas, refinery, reported Reuters with reference to sources familiar with plant operations.

The 76,000 bpd gasoline-producing fluidic catalytic cracking unit (FCCU) was shut on Thursday for repairs, originally expected to take five days to complete.

The 50,000 bpd gasoline hydrotreater is being upgraded during the shutdown, the sources said.

As MRC wrote previously, in December 2017, Total inaugurated the new units at its Antwerp integrated refining & petrochemicals platform, which had progressively started up in the previous few months.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
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MOSCOW (MRC) -- DowDuPont announced two additional members of the future board of directors of Corteva Agriscience, Agriculture Division of DowDuPont, said the company.

They are Dr. Klaus Engel, former CEO of Evonik Industries, and Rebecca Liebert, who recently became senior vice president, automotive coatings at PPG after more than a decade in leadership roles at Honeywell International. With these additions, Corteva Agriscience has 11 members on its future Board.

Greg Page, non-executive chairman-elect of Corteva Agriscience and retired chairman and CEO of Cargill Inc., said, "Continuing to build a highly qualified board, with the right mix of diverse perspectives and experience, is a critical priority as we work with Corteva Agriscience’s leadership to position it to drive sustainable growth as a global leader in agriculture. With the deep expertise in science-based innovation and effective leadership of complex global businesses that Klaus Engel and Rebecca Liebert bring, our Board is even stronger and better positioned to work with management to oversee the successful execution of Corteva Agriscience’s strategy and deliver value for shareholders now and into the future."

"We’re delighted Klaus Engel and Rebecca Liebert are joining the future Corteva board,” said Jim Collins, Chief Executive Officer-elect of Corteva Agriscience. “Their strong backgrounds speak for themselves regarding their ability to advise management as we prepare to launch this pure-play agriculture company with its unique route to market and industry-leading new product pipeline."

DowDuPont remains on track to separate the Materials Science Division (Dow) on April 1, 2019, and the Agriculture (Corteva Agriscience) and Specialty Products (DuPont) Divisions on June 1, 2019.

In addition to Mr. Page, Dr. Engel and Ms. Liebert, Corteva Agriscience’s future Board of Directors includes: Jim Collins, COO of the Agriculture Division of DowDuPont and CEO-elect of Corteva Agriscience; Edward D. Breen, CEO of DowDuPont; Lamberto Andreotti, former Chairman and CEO of Bristol-Myers Squibb; Robert A. Brown, President of Boston University; Michael O. Johanns, retired U.S. Senator and former U.S. Secretary of Agriculture; Lois D. Juliber, former Vice Chairman of Colgate-Palmolive Company; Lee M. Thomas, former Chairman and CEO of Rayonier Inc.; and Patrick J. Ward, CFO of Cummins Inc.
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