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February 02, 2010
SIBUR emerge from non core business
Moscow, February 2, 2010. SIBUR Holding JSC and ROEL Corporation JSC have concluded a contract of purchase and sale of 100% of shares of Kauchuk JSC, the basic product of which is methyl- tertio-butyl ether (MTBE) used as a high-octane gasoline additive. Buying-in is expected within 3-4 months.
In the long term prospect, SIBUR will remain the principal supplier of raw materials to Kauchuk and continue to realize finished products under an agency agreement. A market principle of calculation of payment for supplied raw materials is stipulated.
An investor, who buys the enterprise, is planning to develop biochemical technologies on the production site of Kauchuk JSC.
"Sale of the asset complies with our strategy of withdrawal from non core business and reduction of the number of production sites, - SIBUR president Dmitry Konov said, – That will make possible to concentrate the Company's resources on the main lines of activities."
For Editors
Kauchuk JSC is one of SIBUR Volga production site enterprises. It has manufactured isoprene rubber since 1964, but currently the plant is engaged mainly in production of MTBE, a high-octane gasoline additive. According to the results of 2009, Kauchuk produced about 135 thousand tons of MTBE.
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