Synthomer names leader for new adhesive technologies division

London – Synthomer plc has named Toby Heppenstall to be the president of its newly formed adhesive technologies division, effective on completion of the acquisition of Eastman adhesive resins business expected in the first quarter of 2022. 

Heppenstall, currently VP of performance materials within Synthomer’s performance elastomers division, will be responsible for developing the newly formed division’s growth strategy and business plan as well as its integration into the wider group. 

With the appointment, he will join the executive committee, and report to Michael Willome, who took over as Synthomer’s group chief executive officer in November last year.  

He will relocate from Pall Mall, UK to the group’s Beachwood, Ohio office. 

Heppenstall joined Synthomer in 2016 and holds a masters degree in chemistry and an MBA.

He has 23 years of experience in a variety of commercial managerial roles at ICI, Ineos, Axcentive and Mitsubishi Chemicals.  

According to Synthomer, Heppenstall has “a strong track record of driving significant profit improvement and top line growth in these roles.”

Meanwhile, Andrew Rashid, strategy and M&A director at Synthomer, will become VP finance for the newly formed division, reporting to Heppenstall.   

Rashid and Heppestall were both ‘heavily involved’ in the $1-billion (€860 million) acquisition of Eastman adhesive resins business.

The unit reported revenues of $596m in the 12 months to June 2021 and earnings (EBITDA) of $97m. 

It develops, manufactures and sells speciality tackifying resins and additives for adhesive products across six global locations. 

Among other products, the division manufactures Impera-branded pure monomer resins for the tire and rubber industry under its hydrocarbon resins business line.