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SIBUR closes sale of certain assets including production facilities to Tatneft

November 05/2019

MOSCOW (MRC) -- SIBUR and Tatneft have closed the sale and purchase of certain production and other assets that to date have been registered in the name of SIBUR Togliatti and Togliattisintez legal entities, said the company.

After the deal, Tatneft intends to further develop the acquired assets in line with its gas and petrochemical strategy, while SIBUR will concentrate efforts on establishing and developing global-scale production of basic polymers, high-potential medium-tonnage products and premium special chemicals.

"Our main focus is on the long-term development of our core business and operational excellence,� said Pavel Lyakhovich, member of the Management Board and Managing Director at SIBUR. �At the same time, we will continue to cooperate with the Togliatti-based companies as partners."

As it was infortmed earlier, SIBUR Holding"s Biaxplen has purchased a 50% stake in Manucor SpA, an Italy-based biaxially oriented polypropylene (BOPP) films maker. Under the deal, Manucor and Biaxplen will share their greatest practices in terms of sales and marketing, RandD, technical support and production. The transaction is predicted to open new opportunities for Biaxplen in Europe.

Besides, in October 2019,, ZapSibNeftekhim affiliate produced the first batch of polyethylene (PE) granules using its own ethylene feedstock at its Tobolsk complex in Siberia. Earlier this year, ZapSib produced a test batch of PE from imported feedstock, "while today the process is running smoothly using our own feedstock," SIBUR said. Commissioning and start-up are "well under way", and after ramping up to its full capacity, the petrochemical facility will produce 1.5m tonnes/year of PE - making ZapSib�s Tobolsk project Russia�s largest polymer production facility.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC"s ScanPlast report, Russia"s estimated PE consumption totalled 1,436,390 tonnes in the first eight months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the PP consumption in the Russian market was 909,260 tonnes in January-August 2019, up by 10% year on year. Shipments of PP block copolymer and homopolymer PP increased.

PAO SIBUR Holding is the largest petrochemical company in Russia and Eastern Europe with full coverage of the industry cycle from gas processing, production of monomers, plastics and synthetic rubbers to plastics processing.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PP, PE, petrochemistry, ZapSibNeftehim, Sibur Holding, Tatneft.
Category:General News
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