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Nexeo Plastics private equity owner names interim CEO

June 03/2020

MOSCOW (MRC) -- Nexeo Plastics has appointed Michael Modak as interim CEO, the US-based global thermoplastic resins distributor, said Chemweek

Modak is operating partner at One Rock Capital Partners, the majority owner of Nexeo Plastics. He was previously CEO of PolyAd Holdings, a plastics additives manufacturer, and before that held executive roles with Honeywell, HB Fuller, and Momentive Performance Materials, among others.

Nexeo Plastics was until recently led by Shawn Williams. It did not comment on whether Williams left. The company also appointed Austin Nichols as vice president, product line and market management.

The appointments come as the company is realigning its North American sales organisation.

As MRC informed earlier, New York City-based Investment firm One Rock Capital Partners completed its acquisition of Nexeo Plastics, which is the plastics distribution business of Nexeo Solutions Inc., a subsidiary of Univar Inc.

MRC earlier said, Nexeo Univar Inc., has announced that it has completed the acquisition of Nexeo Solutions, creating a leading global chemical and ingredients solutions provider. The combined company will conduct business as Univar Solutions, reflecting a commitment to combining the 'best of the best' from each legacy organization.

As MRC informed earlier, Russia's output of products from polymers grew in April 2020 by 11.2% year on year due to quarantine restrictions. However, this figure increased by 3.4% year on year in the first four months of 2020.  According to the Russian Federal State Statistics Service, April production of unreinforced and non-combined films decreased to 107,000 tonnes from 110,400 tonnes a month earlier. Output of films products grew in the first four months of 2020 by 12.5% year on year to 402,800 tonnes.
Author:Anna Larionova
Tags:petroleum products, PVC, PP, PS, PE, Nexeo Solutions, Inc.
Category:General News
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