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Ecopet will be sold until the end of 2020

February 19/2020

MOSCOW (MRC) - The non-core asset bank Trust plans to sell the Kaliningrad-based Ecopet enterprise by the end of 2020, Rugrad reports citing the company's press service.

The process of preparing an asset for sale has not yet been finalized. Earlier, the general director of the plant, Alexander Anikeev, expressed the hope that the deal would be closed in a short time, and reported at least three potential investors.

The press service of the Trust did not specify the price at which the Kaliningrad enterprise will be sold; it is considered the largest producer of polyethylene terephthalate (PET) - materials for plastic packaging in Russia and Europe. However, in 2020, the bank plans to sell 20 real estate in the amount of 8.1 billion rubles. and 4 companies worth 6.3 billion rubles.

"We plan to sell these assets, but everything will depend on the market conditions. Enterprises are more difficult to sell than real estate, as there are fewer potential buyers, and it is more difficult to structure transactions. Nevertheless, all enterprises are finalizing the sales preparation process," the press reports - word service of the chairman of the board of Trust Alexander Sokolov.

In addition, in the second week of February, Ecopet began launching PET production after a planned shutdown. The manufacturer stopped its facilities at a scheduled stop on January 20. The plant still does not ship granules for export, the current level of export prices is EUR840 per tonne, FCA Kaliningrad, excluding VAT.

In May 2017, Alco-Nafta CJSC was reorganized into AO, and from June 26, 2017 it was renamed into Ecopet AO.

Ecopet JSC is the successor of Alco-Nafta CJSC, founded in 2003. The company's revenue in 2018 amounted to 1.3 billion rubles. The enterprise participates in the national project Labor Productivity and Employment Support. As RUGRAD.EU previously reported, Trust Bank is looking for new owners directly for Ecopet JSC, which owns petrochemical production facilities on the Baltic Highway, and for the Balttehprom infrastructure site The proceeds from the sale of the assets of Trust Bank are used to compensate for government spending on the rehabilitation of the country's largest banks.
Author:Anna Larionova
Tags:PET-granulate, PET bottles, PET films, PET preforms.
Category:General News
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