MOSCOW (MRC) -- Specialty colourant supplier Chroma Color Corp. has appointed Shruti Singhal as its new CEO and member of the company board of directors, said Canplastics.
Singhal replaces outgoing Chroma CEO Tom Bolger, who served in the position for the past 16 years. "We have been fortunate to have Tom Bolger’s leadership throughout our investment which has seen the company deliver record breaking growth, the completion of seven acquisitions and the integration of those businesses which has expanded Chroma’s footprint and broadened offerings to our customers,” Chroma board chairman George Abd said. “While we will miss Tom’s leadership day to day, he will continue to work with Shruti and the company as we move forward."
Singhal has worked in North America and Europe, and has held positions of increasing management and executive responsibility with multinational companies including Henkel, Cognis (now BASF), Rohm & Haas, The Dow Chemical Co., Ashland, Solenis, and General Cable. Prior to joining Chroma, he most recently served as president for the DSM’s engineering materials business. He holds a master’s degree in chemical engineering from Drexel University, a bachelor’s degree in chemical engineering, and also completed the Global Marketing Management Program at The Wharton School at the University of Pennsylvania.
As per MRC, in a move to expand its product offerings, specialty colour and additive concentrate supplier Chroma Color Corp. has acquired Polymer Concentrates Inc. (PCI) of Clinton, Mass. The terms of the deal have not been disclosed. PCI develops and manufactures colour concentrates for the international plastics industry.
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 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
Headquartered in McHenry, Ill., Chroma makes colour concentrates based on a variety of resins for several markets. The firm employs about 400 and has annual sales of more than US$160 million. In mid-2018, investment firm Arsenal Capital Partners combined Chroma with materials firms Carolina Color, Breen Color Concentrates, and Breen’s Hudson Color unit – which were all owned by Arsenal – to create the current Chromo firm.