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Showa Denko appoints new CEO

September 23/2021

MOSCOW (MRC) -- Showa Denko has announced that Kohei Morikawa will resign as President and Chief Executive Officer (CEO) to become Representative Director and Chairman of the Board of SDK, and Hidehito Takahashi, Representative Director, Managing Corporate Officer, Chief Strategy Officer and General Manager, Preparation Office for Group Chief Strategy Officer (CSO) of SDK will succeed Morikawa, effective January 4, 2022, according to ACNNewswire.

Takahashi is currently in charge of Carbon and Ceramics divisions, Coating Materials Department, Yokohama and Shiojiri plants and Corporate Strategy Department of SDK.

SDK also announces that at Showa Denko Materials Co., Ltd. (SDMC), which is a consolidated subsidiary of SDK, Hisashi Maruyama will resign as President and CEO to become Representative Director and Chairman of the Board of SDMC, and that Hidehito Takahashi, Director of SDMC, will succeed Maruyama, effective January 4, 2022.

These changes in the presidencies have been decided at SDK's board of directors meeting on 22 September.

Through unification of the presidencies and generational changes in top management, SDK and SDMC aim to accelerate integration of the two companies and foster speedy management of the Showa Denko Group as a whole.

As MRC reported earlier, in March 2018, Showa Denko shut its crackert in Oita (Japan) for a scheduled maintenance. The turnaround at this cracker with the capacity of 691,000 mt/year of ethylene lasted until April 19, 2018.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products.
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, petrochemistry, electrical goods, Showa Denko, Japan.
Category:General News
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