Dow Corning today announced that Andrew (Andy) E. Tometich has been named business president of Dow Corning’s Silicones business, effective upon “day one” following the completion of Dow’s ownership restructure transaction with Corning Inc., which is expected to be June 1, 2016.
In this role, Andy will lead Dow Corning’s Silicones business with particular focus on ensuring ongoing operations are smooth for customers through the integration period with Dow. In addition, he will drive the capture of new growth synergies with Dow via Dow Corning’s existing innovation pipeline, new combinatorial chemistries and expanded product offerings. He will report to Mauro Gregorio, incoming chief executive officer of Dow Corning.
“Andy’s strong business acumen and track record of success at Dow Corning make him a great fit for this important leadership role,” said Gregorio. “Andy will help Dow Corning build on its already industry-leading silicones development and manufacturing capabilities, while leading the company into a new era which combines the strengths of both Dow and Dow Corning to benefit our customers.”
“Dow Corning is an industry-leading global company that, with Dow’s support, pioneered the silicones industry more than 73 years ago,” said Tometich. “It is exciting to help lead Dow Corning in this new era, as the combined strengths of Dow and Dow Corning create intriguing possibilities for our customers.”
Over the course of his 27-year career at Dow Corning, Tometich has served in various global and regional commercial, business development and executive positions in the United States and Europe. He also has extensive experience in joint ventures and acquisitions, as well as business activities in the Middle East, Asia and South America. Tometich has been in his current role as Dow Corning’s senior vice president of Silicones since 2014. Prior to that he served as president and chairman of the Hemlock Semiconductor Group.
Tometich earned a Bachelor of Science from the University of Notre Dame and a Master of Business Administration from the Kellogg School of Management at Northwestern University. He has also completed formal executive-level studies at INSEAD, Harvard and Stanford. Currently Tometich is a member of the Wharton Fellows, and serves as a board director and executive committee member for the Great Lakes Bay Regional Alliance.
Source: Dow Corning
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.