By: Frank Esposito
November 8, 2013
Resin distribution leader Ravago Holdings Americas has formed Genesis Polymers, a new business channel that will focus on bulk commodity plastic sales to North American processors.
The unit is being launched “with future North American polyolefin capacity expansions in mind,” RHA President James Duffy said in a Nov. 1 news release. Resin makers are adding billions of pounds of polyethylene capacity in North America because of newfound supplies of shale-based natural gas in the region. New capacity for polypropylene also is expected.
Genesis will be led by Tony Segale, who has more than 30 years of experience in the plastics market. Duffy added that the creation of Genesis “fits well with Ravago’s proven business model of having multiple, focused channels to market.”
RHA is part of privately owned Ravago Group, a distribution, compounding and recycling conglomerate based in Arendonk, Belgium. The firm employs almost 5,000 and has annual sales of around $7.5 billion.
Ravago’s RHA unit is based in Orlando, Fla. The firm’s operations include resin distribution giant H. Muehlstein & Co. Inc.