22.02.2019 • NewsNesteElaine Burridgerenewables

Neste Reorganizes Renewables Business

Neste and LG Chem have partnered to develop and grow the global biopolymers and...
Neste and LG Chem have partnered to develop and grow the global biopolymers and biochemicals market, as well as LG Chem’s domestic market in South Korea. In the next months, LG Chem will start replacing fossil feedstocks used in its polymers and chemicals with Neste’s renewables. (c) Neste

Finnish chemical producer Neste is restructuring its renewable products business in order to “drive the successful execution” of its global growth strategy.

The Espoo-headquartered group is dividing the business into the three units Renewable Polymers & Chemicals, Renewable Road Transportation and Renewable Aviation, along with   one operational platform, called the Renewables Platform.

Each business unit will have its own responsible executive vice president on Neste’s executive committee (previously the executive board).

“Neste has become a global leader in renewable products produced from waste and residues. We see further growth opportunities and demand for renewable and circular solutions not only in road transport but also in aviation and the polymers and chemicals value chain,” said president and CEO, Peter Vanacker. “I am confident that this change will enable a faster and bolder execution of our global growth strategy and thus help Neste to achieve both profitable growth and sustainability aspirations”.

The company said it has appointed the vice presidents for Renewable Road Transportation and the Renewables Platform and will appoint those for Renewable Aviation and Polymers & Chemicals at a later date.

All the changes will take place with effect from May 1.

Last month, Neste gave the final investment decision to expand its renewable products plant in Singapore. It will spend about €1.4 billion to increase capacity by up to 1.3 million t/y in order to meet growing global demand. The expansion is due online during the first half of 2022.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

Free Virtual Event

Vaccine Manufacturing
Bioprocess Forum

Vaccine Manufacturing

Join global experts and innovators for a two-day virtual event exploring the latest breakthroughs and best practices in vaccine manufacturing. Discover how new technologies and process innovations are shaping the future of vaccine production, safety, and scalability.

most read

Photo
28.07.2025 • NewsChemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.

Photo
22.04.2025 • News

BASF Divests Two Joint Ventures in China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.