MOSCOW (MRC) -- Daniele Ferrari, former CEO of Italian chemicals maker Versalis, will join private equity from SK Capital Partners (New York, New York) as a senior director, according to Chemweek with reference to the firm's statement.
Ferrari was CEO of Versalis, a subsidiary of energy giant Eni, for nine years. Ferrari also served as chairman of Matrica, a bioplastics joint venture between Novamont and Versalis, during that time.
Ferrari has held other executive roles at Eni and Huntsman during a 35-year career, and has served as a leader in industry trade associations in Europe.
As MRC reported previously, SK Innovation Co Ltd, the owner of South Korea's top refiner SK Energy, said in early February, 2021, that refining margins are expected to gradually recover this year on a pick-up in fuel demand as the impact of COVID-19 eases. The company, which has been battered by weak margins during the global pandemic, posted an operating loss of 243 billion won (USD218 million) in the October-December quarter.
We remind that SK Advanced is planning to start up the new polypropylene (PP) plant in Ulsan, South Korea this March 2021 as construction works are nearly completed. The PP unit is a joint venture between PolyMirae and SK Advanced, using the “Spheripol” process of LyondellBasell, and have an annual output of 400,000 tons/year. The unit will be utilizing the propylene output from SK’s 600,000 tons/year propane dehydrogenation (PDH) unit at the same complex. It is expected that SK Advanced would have a smaller propylene allocation for export once the new PP line comes online.
According to MRC's ScanPlast report, PP shipments to the Russian market reached 1 240,000 tonnes in 2020 (calculated using the formula: production, minus exports, plus imports, excluding producers' inventories as of 1 January, 2020). Supply of exclusively PP random copolymer increased.