MEGlobal Announces New Chief Financial Officer

Niklaus Meier joins MEGlobal as new CFO

Dubai – Sept. 18, 2011 – MEGlobal has announced Niklaus Meier, current controller and head of group control at Ciba in Switzerland, as Chief Financial Officer (CFO). Meier succeeds Werner Baur in the position, who is retiring from MEGlobal. Meier joined MEGlobal on September 1, 2011 and will collaborate with Werner to ensure a smooth transition.

“As MEGlobal’s CFO, Werner Bauer has been with the company since its inception and his contributions are too numerous to count,” said Ramesh Ramachandran, president and CEO, MEGlobal. “His tireless enthusiasm, drive and his emphasis on strong systems of governance and compliance will be a legacy MEGlobal will always cherish. We wish him the very best as he moves into retirement.”

The MEGlobal board and Ramachandran engaged in an extensive external search for the next CFO and Meier was the unanimous choice.

“We are extremely delighted to have Niklaus Meier join our senior leadership team. His understanding of the operations of a chemical company, as well as his over 20 years of experience in leading positions in finance in the international level, make him supremely suited for the position,” said Ramachandran. “I am confident that he will be a great asset in helping MEGlobal achieve future objectives.”

Before joining MEGlobal, Meier held a variety of management positions at Ciba in accounting and group control when he joined the company in 1995 as head of accounting. In 1997, he was named Ciba’s head of the business support center where he was responsible for accounting and controls under US-GAAP. He reported for approximately 20 affiliate companies in Switzerland, Turkey, UAE, Saudi Arabia, Egypt and South Africa in this role. In 2002, he was named head of group control, where he was responsible for accounting, consolidation, internal controls (SOX) internal and external reporting. In addition, he led part of the internal project team that changed the regional finance organization into a global organization along SAP work processes. He was also the interim CFO towards the end of his engagement.

Meier earned a Swiss Federal Diploma as an Expert in Accounting and Controlling and is a member of the VEB work group “Swiss Controlling Standards.”

About MEGlobal
MEGlobal is a world leader in the manufacture and marketing of merchant monoethylene glycol and diethylene glycol (EG). Established in July 2004, the company is a joint venture between The Dow Chemical Company and Petrochemical Industries Company of Kuwait and is headquartered in Dubai, United Arab Emirates. MEGlobal produces about 1.0 million metric tons per year of EG, and markets in excess of 2.5 million metric tons of EG per year. With approximately 200 employees worldwide, MEGlobal serves customers around the world, and has production facilities in Fort Saskatchewan and Prentiss, Alberta, Canada. EG is used as a raw material in the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products. For more information, visit www.MEGlobal.biz.

For additional editorial information, please contact:
In the Middle East:
Majed Al-Majed, MEGlobal Communications Leader, +971 (0)4 2923 917 or malmajed@meglobal.biz
Zoya Pasha, +009714-4461434 or zoya@activepr.biz

All other regions:
Vanessa Horn, Gibbs & Soell, +1 847 519 9150 ext. 2107 or vhorn@gibbs-soell.com