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Ineos Styrolution announces CEO change

June 26/2020

MOSCOW (MRC) -- Ineos Styrolution, the global leader in styrenics, said today that Kevin McQuade, who has led the company as CEO since 1 January 2015, has been appointed chairman of Ineos Styrolution, said the company.

Steve Harrington, currently president of global styrene monomer and APAC for Ineos Styrolution, has been appointed CEO, reporting to McQuade.
The change will be effective from 1 July 2020. Harrington has a 30-year career in the chemical industry, the last 19 years working for Ineos in commercial and senior management roles. He has prior experience with ICI and Unilever.

As MRC informed earlier, INEOS is enacting a series of social distancing measures in order to protect its employees who play a vital role in the production of essential products. INEOS has announced a series of measures to protect employees and thereby ensure the continued operation of its plants and businesses through the coming weeks and months. As the manufacturer of essential materials that are vital to life, the company is taking immediate action to limit the spread of the virus.

As MRC informed before, in January 2019, INEOS announced Antwerp as the location for its new petrochemical investment. The EUR3 billion investment will be the biggest ever made by INEOS and is first cracker to be built in Europe in 20 years. The investment is a game changer for the chemical sectors and will bring huge benefits to the Belgium and wider European economies.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 557,060 tonnes in the first three month of 2020, up by 7% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments rose because of the increased capacity utilisation at ZapSibNeftekhim. Demand for LDPE subsided. At the same time, PP shipments to the Russian market was 267,630 tonnes in January-March 2020, down 20% year on year. Homopolymer PP and PP block copolymers accounted for the main decrease in imports.
Author:Anna Larionova
Tags:PP, PS, PE, Ineos, Ineos Styrolution.
Category:General News
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