Covestro announces new U.S. executive leadership

MOSCOW (MRC) -- Covestro announced that Samir Hifri will take the reins as chairman and president at Covestro LLC, effective July 1, 2023, said the company.

In this role, Hifri will lead the U.S. operations of the global materials company, succeeding Haakan Jonsson, who will retire after 30-plus years of service with Covestro.

“I’m both humbled and grateful for the opportunity to lead and work alongside the talented U.S. team, as we continue to advance the company’s vision of becoming fully circular,” said Hifri. “In some ways, I feel as though as my own career has come full circle, as this next chapter brings me back to Pittsburgh, where my Covestro journey first began.”

Hifri joined the company in 1998 as a commercial trainee at Covestro’s U.S. headquarters in Pittsburgh, Pa. Since then, he has led a diverse career spanning product management, sales & marketing, supply chain and country management – a path that has taken him to 10 Covestro sites across six countries and three continents. Hifri currently serves a dual role as the senior vice president and managing director of Covestro Hong Kong, as well as head of the Supply Chain & Logistics Center for the Asia Pacific region.

Hifri graduated from Duquesne University with a bachelor’s degree in international finance, and he also holds an executive degree from INSEAD in France. Hifri is married with four children, and, in addition to his professional responsibilities, remains active in a number of community and academic functions.

We remind, Covestro has again been awarded an „A-“ rating in this year’s climate protection ranking by the Carbon Disclosure Project (CDP). This underpins Covestro’s climate protection efforts and maintains its position among the leading companies in this segment. After already achieving very good results last year, Covestro participated in the survey again this year and con-vinced with its complete focus on the circular economy.

Covestro’s U.S. presence includes roughly 2,700 employees and 13 site locations across the states of Georgia, Illinois, Indiana, Massachusetts, Ohio, Pennsylvania, Rhode Island, Texas and West Virginia. The U.S. business represents approximately 25 percent of global Covestro sales.

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MOSCOW (MRC) -- AkzoNobel has launched a new range of Resicoat EV powder coatings to protect the battery system and electrical components of a new generation of electric vehicles (EVs), said Coatingworld.

The future success of EVs is dependent on the performance of the battery and associated systems. Battery performance, however, is highly impacted by its environment, which is why it needs protection to ensure the vehicle’s performance and the safety of the passengers. Powder coatings can improve the performance of the battery by providing insulation from electric current and protection against corrosion. This means manufacturers can extend battery life, and ensure the battery performs better for longer.

Each of the five product ranges developed within the Resicoat EV range has been specifically innovated to enhance the safety and performance of the EVs of tomorrow. They have superior electrical insulating properties and enhanced thermal management to help protect the battery systems, motors, and electrical storage units.

The range comprise Resicoat EVpack which delivers a range of protective properties for the battery pack or housing to insulate electrical systems; Resicoat EVcell which provides outstanding cell to cell electrical insulation for even the most intricate designs; and Resicoat EVcooling, designed to deliver superior performance in thermal conductivity, electrical insulation, edge coverage and consistent film building in cooling tube and cooling plate applications.

It also includes Resicoat EVbusbar to coat the busbars that carry and distribute electricity to improve heat dissipation and support a lower fire load with a longer lifetime during thermal impact. To protect the electric motor, the Resicoat EVmotor range includes epoxy powder solutions that are specifically designed for the electrical insulation of hairpin stators.

Key solutions within the Resicoat EV range are tested and approved to UL 94 V-0 which enables vehicle systems to tolerate a certain amount of exposure to a flame without igniting. They’re also tested and approved to UL746B and UL1446, ensuring they can resist thermal degradation and possible damage that can occur at elevated temperatures.

Sustainability is a significant driver in the popularity of EVs and similarly important to AkzoNobel. Crucially, the guaranteed durability of the Resicoat EV range in protecting essential components means those components last longer before needing to be replaced. Resicoat powder coatings have very minimum Volatile Organic Compounds (VOCs) and conform to the industry’s Restriction of Hazardous Substances (RoHS) Directive, to give coaters and customers ultimate peace of mind.

Jeff Jirak, Managing Director at AkzoNobel Powder Coatings, said innovation is the key to accelerating the future EVs: “For more than 60 years we have built the expertise and innovation inherent with our Resicoat brand to help resolve the challenge of electrical insulation. We understand how an exceptional powder coating with the right application technique will provide consistent electrical insulation for the life of the key components, such as the batteries in EVs. It’s further proof of our commitment to supporting our customers through partnerships and product development to create, power and protect the designs of the future.”

We remind, AkzoNobel has completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio. The acquired business will complement AkzoNobel’s existing powder coatings offering and expand the range of innovative products the company supplies.

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MOSCOW (MRC) -- Perstorp Oxo AB will increase its selling prices for isononanoic acid globally, effective Feburary 1st, 2023, or as existing contracts allow, said the company.

All terms, conditions, and differentials will remain the same. This action is necessary due to supply and demand as well as increasing raw material prices. Your understanding and support is much appreciated.

The price of isononanoic acid will increase in Europe by EUR180/mt, in the USA by USD0.09/lb, in the rest of the world by USD190/mt.

We remind, Perstorp moves to make more eco-friendly polyols at Swedish site. Perstorp, a Sweden-based speciality chemicals provider, is transforming a huge majority of the polyols generated at their largest production facility in Perstorp, Sweden, to 'Pro-Environment' products. It will convert all base polyols prepared at its Perstorp unit - neopentyl glycol (Neo), pentaerythritol (Penta), and trimethylolpropane (TMP) - to 'Pro-Environment'.

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MOSCOW (MRC) -- Axalta Coating Systems will release its fourth-quarter and full-year 2022 financial results after the close of trading on Wednesday, January 25, said Coatingsworld.

The release and supporting materials will be posted to the Investor Relations portion of axalta.com. In addition, the company will host a conference call at 9:00 a.m. ET on Thursday, January 26. Chris Villavarayan, Chief Executive Officer and President, and Sean Lannon, Chief Financial Officer, will review the company's financial performance for the period. A live webcast of the conference call will be available here. A replay of the webcast will be posted shortly after the call and will remain accessible through January 26, 2024.

We remind, Axalta, a leading global supplier of liquid and powder coatings, broke ground for construction of a state-of-the-art coatings facility in Jilin City, Jilin Province, North China. The 46,000-square-meter new plant will produce mobility coatings to support growing customer demand in China for light vehicles, commercial vehicles, and automotive plastic components. "Our new plant in Jilin is another building block supporting our ambitious growth strategy for our mobility business in China," said Nicolas Franc de Ferriere, Vice President, Mobility, Asia Pacific at Axalta.

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MOSCOW (MRC) -- Germany's government is moving ahead with plans to set up a “single-use plastic fund” (Einwegkunststoff-Fond), with an estimated revenue of up to EUR450m/year, to be raised through an annual levy on manufacturers of single-use plastic products, said Mondaq.

The fund would help municipalities pay for the “necessary costs for waste management measures, cleaning of public spaces and awareness-raising measures”, according to the draft legislation debated in the country’s lower legislative house on Thursday. It would be administered by Germany’s federal environmental agency, the Umweltbundesamt.

The obligation for manufacturers to "bear certain costs" would help “manage plastics more sustainably along the value chain, combat environmental pollution and promote cleanliness of public space”, according to the draft law.

Specific annual levy rates and other criteria would be set by statutory regulation. Payments from the fund to municipalities could start in 2025.

The legislation is in line with a 2019 EU directive on the reduction of the impact of certain plastic products on the environment.

We remind, single-use plastic plates, cutlery and a host of other items are set to be banned in England from October, the Government has said. The Department for the Environment said that a new ban will also cover single-use plastic bowls, trays as well as certain types of polystyrene cups and food containers, as the Government seeks to curb the “devastating” impact of plastic on the environment. Department officials said that England uses around 2.7 billion items of single-use cutlery per year, with only 10% recycled.

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