MOSCOW (MRC) - The Kaliningrad group of companies Ecopet, the largest producer of polyethylene terephthalate (PET) in Russia and Eastern Europe, has been put up for sale by the Bank of non-core assets Trust, Rugrad reports.
The preparation of the transaction is overseen by the Trust Non-core Assets Bank. As follows from the materials posted on the Trust website, the bank is looking for new owners for Ecopet LLC, which owns petrochemical production facilities on the Baltic Highway, and for the infrastructure site of Balttehprom LLC.
According to the CEO of Ecopet and Balttechprom Alexander Anikeev, two Russian and foreign investors have already shown interest in the assets. According to the head, the option with the purchase of the Civil Code by state structures is excluded. Ecopet is now for sale.
Trust Bank must sell our asset within a short time. The state, of course, will not buy. It so happened that the shareholders of Ecopet changed almost every year. The first owner took a loan to build the plant, then something went wrong, and the company transferred to MDM Bank.
After the termination of its activities, we transferred to the financial group "Discovery". When the non-core asset bank of PJSC National Bank Trust was established, it included Ecopet, the Baltic Industrial Park and the Fifth Element plant in Krasnoznamensk, the Royal Gate magazine quoted Alexander Anikeev as saying.
Last October, the chemical laboratory of Ecopet JSC passed the accreditation procedure of a new technology for the production of its products. The approved accreditation area of the Ecopet chemical laboratory includes studies of high viscosity polyethylene terephthalate of the Ekopet trademark, terephthalic acid, isophthalic acid, ethylene glycol, diethylene glycol, sewage, natural water.
According to the ICIS-MRC Price Review, on January 20, 2020, Ecopet stopped the production of PET for scheduled repairs.
The company is based on the territory of the free economic zone of the Kaliningrad region. The plant's total PET production capacities are 220,000 tonnes per year. PET chips are produced under the EcoPet trademark and is used for the production of food packaging and PET bottles.
MRC