Core Insights - Allnex's CEO Miguel Mantas announced his retirement effective June 30, 2025, after leading the company since 2016, during which time the company doubled in size and became a global leader in industrial coating resins [1][3] - Duncan Taylor, the current CFO, has been appointed as interim CEO while the company searches for a permanent successor [1][3] - Allnex has a strong global presence with 33 production sites and 23 R&D centers, and it has a significant patent portfolio in the coating industry [3] Company Leadership Transition - Miguel Mantas expressed gratitude for the support from customers, employees, and partners during his tenure [3] - Duncan Taylor has extensive experience in the coating resin industry and has played a crucial role in Allnex's strategic direction [3] - PTTGC's CEO acknowledged Mantas's contributions and expressed confidence in Taylor's leadership during the transition [3] Company Performance and Market Position - Allnex has expanded significantly, integrating into PTTGC after being acquired in 2021 [3][4] - The company operates in various sectors, including construction, industrial, automotive, and specialty coatings, with a production capacity of 54,000 tons in Europe, 24,200 tons in the U.S., and 49,900 tons in Asia [3] - In 2024, Allnex's sales revenue is projected to grow by 10%, driven by increased sales in the Asian market [6][8] Financial Overview - PTTGC's high-performance chemicals segment, which includes Allnex, is expected to generate sales of approximately 90.61 billion Thai Baht (around 2.56 billion USD) in 2024, accounting for 15% of total revenue [4][6] - Allnex's adjusted EBITDA for 2024 is projected to be approximately 272 million Euros, reflecting a 10% year-over-year increase [6] - The company has seen a 15% increase in market sales in China for 2024, indicating strong growth potential in the region [8] Future Investments and Developments - Allnex is investing approximately 200 million USD in a new high-performance industrial resin project in Jiaxing, China, which will become its largest single factory [10] - The company plans to expand its production capacity with additional projects focused on energy-saving and environmentally friendly powder coatings [10] - The demand for high-performance resin materials is expected to grow due to advancements in sectors such as electric vehicles and aerospace [10]