Wacker elevates Koini to president of silicones division

MUNICH—Wacker Silicones, one of four major chemical development and manufacturing segments for Wacker Chemie A.G., has named Thomas Koini as president.

The appointment is effective July 1.

Koini succeeds Robert Gnann, 58, who is retiring. Gnann's last day at Wacker in the top position at Wacker Silicones is June 30.

Koini previously served as head of the performance solutions business unit, a position he held since 2018.

Koini has a background in industrial engineering, joining Wacker in 1996 as a laboratory manager in technical marketing with Wacker Silicones.

He subsequently served in numerous executive positions in the silicones divisions, including as director of the Greater China silicones business.

By 2014, he was director of the central sales and distribution department.

Koini takes over a division that led Wacker Chemie A.G. in sales in 2022.

Wacker Silicones, which generates more than 40 percent of group sales per year, saw $3.75 billion in net sales (33 percent growth over 2021), according to the recent year-end financial report.

In addition to higher selling prices, high-margin specialty silicones, many of which were added to Wacker's portfolio in the last two years, performed well.

Wacker expects more than $429 million in capital expenses will go to Wacker Silicones and Wacker Polymers in the coming year.

More than $85.8 million is earmarked for Wacker Biosolutions and around $107.3 million per year is planned for Wacker Polysilicones.

Wacker Group set the stage last year for the continued capital expenditures, which were 59 percent higher in 2022 than in 2021 (at about $592 million last year against about $374 million in 2021).

A vast majority of the expenditures went toward capacity expansions in all four business segments, including HCR and LSR capacity expansions in the U.S., Germany, India and China, among other locations.