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Air Products extends CEO Ghasemi's term through 2025

June 29/2020

MOSCOW (MRC) -- Air Products has extended chairman and CEO Seifi Ghasemi's term through September 2025, said Chemweek.

"Air Products continues to perform at an exceptional level and deliver on commitments in numerous areas, including financial performance, global growth, inclusion, technology, employee development and shareholder returns, to name a few," said Chad Deaton, lead director. "The board understands the importance of maintaining continuity as the company pursues even greater growth globally, and clearly, Seifi Ghasemi provides that strong leadership and direction."

Ghasemi, who will be 81 when the new term expires in 2025, was named chairman, president and chief executive officer of Air Products in 2014. УI am honored to be given the opportunity to lead Air Products for at least another five years," said Ghasemi.

As MRC wrote earlier, in December 2014, SIBUR-Khimprom (a subsidiary of SIBUR Holding) and Air Products entered into an agreement to build a new air separation unit in Perm and to supply the facility with locally produced gases. The unit came on-stream in 2016. After the commissioning Air Products will supply industrial gases for SIBUR-Khimprom over the next 20 years.

Besides, we remind that in September 2019, SIBUR, the largest petrochemical comples in Russia and Eastern Europe, and BASF, Geman petrochemical major, agreed to closely cooperate on sustainable development to share their best practices.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 721,290 tonnes in the first four month of 2020, up by 4% year on year. Low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) shipments grew partially because of the increased capacity utilisation at ZapSibNeftekhim.  At the same time, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.
Author:Anna Larionova
Tags:propylene, ethylene, Air Products, BASF, Sibur Holding.
Category:General News
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