SIBUR Exits Methanol Business

The Board of Directors of SIBUR Holding JSC has decided to divest the company’s methanol business in order to focus on developing its core activities.

Sibmetakhim LLC (a joint venture between SIBUR Holding and Vostokgazprom) has sold its 33.4602% shareholding in OJSC Metafraks to IK Troika Dialog, acting on behalf of a buyer.

SIBUR Holding’s exit from the joint venture is now being formalized through a reorganization of Sibmetakhim, leaving Vostokgazprom subsidiaries Metanol and Tomskgazprom as the company’s shareholders.

Any future relationship between Sibmetakhim and SIBUR Holding will be on the basis of commercial contracts.

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LLC «Siberian metanol chemical company» (Sibmetakhim) was founded in September 2006 to manage Gazprom’s methanol production projects. The company’s charter capital was made up of SIBUR Holding’s shareholding in Metafraks (33.4% of the charter capital) and methanol production facilities in Tomsk region belonging to Vostokgazpom and SIBUR Holding.

Sibmetakhim’s annual methanol production is around 750,000 tonnes.