The board of directors of Equate (Safat, Kuwait), the largest producer of petrochemicals in Kuwait, today announced the appointment of Ramesh Ramachandran as the new CEO and Naser Al-Dousari as the new senior vice president.
Equate is a joint venture between Petrochemical Industries Co. (PIC), Dow Chemical, Boubyan Petrochemical Co., and Qurain Petrochemical Industries Co.
Ramachandran will succeed Mohammad Hussain, who is retiring after serving as CEO for two consecutive three-year terms and a career in the oil, gas, and petrochemical industry extending over 35 years. During his tenure, Hussain led the transition of the organization from a single-plant operation to a global leader with manufacturing operations in Kuwait, Europe, and North America. Both Ramachandran and Dousari will assume their new roles effective 20 November 2017 and will complete the transition process with Hussain by the end of the year.
Prior to his new appointment, Ramachandran served as the senior executive vice president of Equate. Dousari was the manager of olefins business development at PIC and a board member of Equate and Kuwait Olefin Co., a subsidiary of Kuwait Petroleum Corporation and a founding shareholder of Equate.
Equate Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG), following its recent acquisition of MEGlobal. The group has industrial complexes in Kuwait, North America, and Europe that produce over 5 million metric tons/year of ethylene, EG, polyethylene, and polyethylene terephthalate. The products are marketed throughout Asia, the Americas, Europe, the Middle East, and Africa.
By Natasha Alperowicz
Source: Chemical Week
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
