NEW YORK — The consortium buying Hoechst AG's Trevira polyester unit already is making changes at the top of North America's second-largest PET resin maker.
The new ownership group — consisting of Mexican businessman Isaac Saba and oil and chemicals giant Koch Industries of Wichita, Kan. — has appointed Pedro Haas chief executive officer of the unnamed venture. Haas currently is managing director of Koch's Latin American business in Mexico City.
Haas will replace William Harris, who has been Trevira's president and chief executive officer since 1994. Harris was not offered the position, according to a company spokeswoman, but he and current Trevira management will remain in their positions through the closing of the acquisition.
Saba, the largest shareholder in Hoechst's Mexican Grupo Celanese subsidiary, will serve as chairman.
Trevira produces about 1.4 billion pounds of PET resin annually in North America. The New York company, with 1997 sales of $3 billion, also is a major PET maker in Europe and a top worldwide producer of polyester fibers and filament.
Trevira's chief financial officer, Ken Kutcher, and worldwide technical fibers President Ed Munoz will stay within Hoechst. Ron Guard, president of global polyester resins and intermediates, will be a consultant to the new company.