Indevco North America, a maker of plastic film and packaging, has a new CEO.
Ned Bassil succeeds Pierre Khattar, who becomes a member of the company's board of directors after working for Indevco for four decades, the company said.
Bassil most recently was operating partner at Beckway Group, which describes itself as an operating platform for private equity firms that improves the value of businesses.
"Ned has a proven record in optimizing and growing industrial concerns. Along with our high-performing executive team, his leadership skills will propel Indevco North America to achieve aggressive strategic goals," Khattar said in a statement.
Indevco North America is a subsidiary of Indevco Group, of Ajaltoun, Lebanon, which has operations in North America, Europe, Africa and the Middle East. North American facilities are in Doswell, Va.; Longview, Texas, and Middleton, Wis.
The company also recently announced plans for a new $25 million location in Orangeburg, S.C., that will make polyethylene converting film and form-fill-seal and stretch hold films. The company spent $15 million in 2020 to enlarge operations in Doswell and $9.5 million in 2019 to expand in Longview.
Along with film products, Indevco also makes sheathing to envelope and protect buildings from the elements.
Indevco established operations in North America in 2014, returning production to a former Bemis polyethylene film plant that had closed in 2012 in Longview. Up until then, the company had been importing products into the United States.
Along with plastic packaging and converting, the company also makes paper-based packaging.
"Pierre's leadership was instrumental in forming the foundation of Indevco North America. His passion to effectively set up the company for our next growth phase was remarkable," Executive Chairman Bahjat Frem said in a statement.
Bassil, he said, joins the Indevco at a "pivotal juncture" in the firm's growth in North America. He starts his new job Sept. 1.