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Linde Group appoints new CEO

October 27/2021

MOSCOW (MRC) -- Linde has announced its Board of Directors has appointed Sanjiv Lamba to succeed Steve Angel as Chief Executive Officer (CEO), effective March 1, 2022, as per the company's press release.

Besies, Steve Angel will succeed Wolfgang Reitzle as Chairman.

Lamba was named Linde's Chief Operating Officer in October 2020. Throughout his more than 30-year tenure with Linde, he served in various leadership roles including Executive Vice President APAC, Head of Regional Business units (South & South East Asia) and Managing Director India. In addition to his appointment as CEO, Lamba will join Linde's Board of Directors, effective March 1, 2022.

Angel was named Chief Executive Officer of Linde plc in 2018, having successfully led the merger of Linde AG and Praxair into the world's largest global industrial gases and engineering company. Under his leadership, the company implemented a culture of operational excellence and capital discipline which, when combined with industry leading growth, generated 100% Total Shareholder Return over the last three years. Prior to his role as Linde CEO, Angel served as Chairman, President and CEO of Praxair, Inc. since 2007.

As MRC reported earlier, in JUne 2021, SIBUR -Neftekhim and Linde Gas Rus signed agreements on implementation in 2021-2022. a project for the utilization of carbon dioxide (CO2) generated in the technological process of the SIBUR enterprise in Dzerzhinsk. SIBUR -Neftekhim will build an infrastructure for the transportation to the Linde Gas Rus site of crude CO2 obtained as a by-product in the process of ethylene oxide synthesis. In turn, Linde Gas Rus will build a unit to bring the quality of this gas to the level of a commercial product, applicable, among other things, in the food industry, and will sell it to end consumers.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,638,370 tonnes in the first eight months of 2021, up by 10% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 989,570 tonnes in the first eight months of 2021, up by 30% year on year. Deliveries of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas shipments of injection moulding PP random copolymers decreased significantly.

Linde is a leading global industrial gases and engineering company with 2020 sales of USD27 billion (EUR24 billion). The company serves a variety of end markets including chemicals & refining, food & beverage, electronics, healthcare, manufacturing and primary metals. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, ethylene, gas processing, petrochemistry, Linde Group, Sibur-Neftekhim, Russia.
Category:General News
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