A new chief executive has been appointed to lead Accsys Technologies Plc, the company behind the stalled construction product manufacturing plant in Hull.
Jelena Arsic van Os will join the business that has put its £120 million Tricoya operation at Saltend on hold in July.
She has more than 20 years’ experience in senior executive leadership roles in large-cap multinational companies, and is described as having a proven track record in transforming and driving complex businesses as well as leading successful operational turnarounds.
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Currently vice president of plastics coatings, adhesives and rubber performance minerals at Paris-headquartered Imerys SA, a global leader in mineral-based specialty solutions, she previously worked for AkzoNobel for 17 years, holding several senior global director positions as part of the executive leadership team - latterly as business director for resins in Amsterdam. She holds a PhD in Solid State Chemistry.
“I am very excited to be joining Accsys," Dr Arsic van Os said. “As the chief executive officer and a member of the board, I will be committed to bringing my perspective and experience to the company, collaborating with the talented Accsys team to drive the organisation in unlocking its full potential and maximising value creation for our customers and stakeholders.”
Accsys is an Anglo-Dutch listed operation with a plant in Arnhem as well as proposals in the US. It uses chemistry and technology to produce revolutionary wood-based construction products, turning over £104 million in its last financial year.
The Saltend project - to be a first-of-its-type plant for Tricoya, described as a new breed of MDF - saw build costs virtually double, with significant delays mounting through Covid, when the lead contractor declared a force majeure event, walking away from delivery.
It was subsequently taken in-house, with a further £30 million of capital identified as being required. Existing partners were bought out from what had been a joint venture as further backing commitments stalled, with the six month pause introduced in November. In January Accsys said new partners could be sought to take it forward if it proves viable.
As reported, a new chief financial officer has just been appointed, with chair Stephen Odell having taken an executive role following former CEO Rob Harris’ departure last month. Mr Odell, a former Ford executive, will return to the independent role when Dr Arsic van Os joins.
He said: “On behalf of the board, I am delighted that Jelena is to become Accsys’ new chief executive officer.
“Jelena’s considerable and relevant experience makes her a great fit for Accsys and well qualified to lead the business into the next phase of growth as we continue with our mission of changing wood, to change the world. I look forward to welcoming her to the company at the beginning of July.”
Dr Arsic van Os’ experience extends to delivering large capital projects across a number of jurisdictions, including a new protective coatings plant in Brazil and capacity extensions in industrial coatings in Argentina and powder coatings in the US, Middle East and China.
There was no immediate indication as to whether there will be movement on the East Yorkshire plant, a significant way through the build process, before she starts. With the minimum pause term due to expire in early May.
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