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Mexichem to Appoint New CEO

HOUSTON, February 1, 2018 (PCW) -- Mexichem S.A.B. de C.V. has announced its intention to appoint Daniel Martínez-Valle to the position of Chief Executive Officer. This follows the resignation of Antonio Carrillo, the company’s current CEO, who has announced that he is leaving Mexichem to pursue other professional interests at a public company in the US.

Mexichem’s Board of Directors will formally appoint Mr. Martínez-Valle in the coming days.

Mr. Martínez-Valle, 46, is currently CEO of Kaluz, an industrial and financial conglomerate, which he joined in 2010.

Mr. Juan Pablo del Valle, Mexichem’s Chairman said that Mr. Martinez-Valle is current on all areas of Mexichem’s operations, having worked closely with the company’s operating management teams in an advisory capacity, specifically around recent acquisitions, including the Netafim transaction. (Netafim is an Israeli manufacturer of irrigation equipment. The company produces drippers, dripperlines, sprinklers and micro-emitters.)

Mexichem re-affirmed its guidance for 2017 full year EBITDA growth of 20%-25% above the $884 million in EBITDA reported in 2016. Mexichem expects to close the Netafim acquisition in early February. -- Donna Todd

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