Röhm’s Acrylic Products business and Sabic’s Functional Forms business will merge to form the new company Polyvantis. This new company is expected to have 16 production sites in the Americas, Europe, Asia, and Africa, 1,500 employees, and sales of $700 million. The company is expected to launch in the second quarter of 2024.
The name Polyvantis combines the Greek prefix “poly” for many with the Italian “avanti” or the French “avant”, which means “forward”. The companies say this reflects the diversity of the products and the drive for progress in the field of polymers and related materials.
Röhm has now announced the Board of Directors. It will consist of senior executives from both companies and will be completed by an experienced new CFO.
Dr. Sandeep Dhawan will be responsible for the operational business as Chief Executive Officer (CEO). He currently heads SABIC’s Functional Forms business and brings extensive market expertise and global experience from various management positions at SABIC and General Electric, Boston, MS, USA. He studied Chemical Engineering at the Indian Institute of Technology, Dehli, and received his Ph.D. from the University of Minnesota, Twin Cities, USA, on Wettability on Fluid Flow through porous media.
Peter Stubbe has been appointed Chief Financial Officer (CFO). He has many years of experience as a global CFO, most recently with the chemical company HCS Group, Frankfurt, Germany. He received his diploma in 1992 as an industrial engineer from the Technical University of Darmstadt, Germany.
To lead the integration of the two companies and to define the strategic direction, the role of Chief Transition and Integration Officer will also be anchored in the Board of Directors. Dr. Wolfgang Pöffel, who is currently responsible for strategy at Röhm and has many years of operational and strategic management experience in the methacrylates sector, will assume this role.
The team will be supported by an Advisory Committee chaired by Michelle Williams, former Global Group President of Altuglas of Arkema, Colombes, France, and consisting of Henri Nejade, former COO of the Specialties Business of Brenntag, Essen, Germany, and Dr. Dahai Yu, Chairman of the Supervisory Board of Röhm. Ronald Ayles, Managing Partner, and Johannes Arzner, Director of the financial investor Advent International, Boston, MS, USA, will complete the Advisory Committee.