Sibur acquires JSC Acrylate in Russia

Sibur acquires JSC Acrylate in Russia

2:45 PM, 29th July 2011
Sibur acquires JSC Acrylate in Russia
Dmitry Konov, President, Sibur.

 

MOSCOW, RUSSIA: Sibur acquired JSC Acrylate, the only CIS-based producer of acrylic acid and its esters, from the ATEK Group. JSC Acrylate’s production site is located 2 km from Sibur’s facility, which provides JSC Acrylate with its basic raw material propylene. The production capacity of JSC Acrylate’s plant is 25 kta of ester grade acrylic acid, 36 kta of heavy esters (butyl acrylate) and 10 kta of light esters (methyl and ethyl acrylate).

Sibur’s acquisition of JSC Acrylate will help it accelerate development of the market for acrylic derivatives in Russia and the CIS. The companies are considering the possibility of increasing output capacity and expanding processing of products by JSC Acrylate.

Sibur is a significant player in the acrylic acid sector and its derivatives. The acquisition will further help it with bulk of production meeting consumer demand and localizing production in the growing Russian market.

“The new acquisition represents another significant step in implementing the company’s growth strategy in separate, carefully selected segments of specialty chemicals,” said Dmitry Konov, President, Sibur.

“The sale of Acrylate took place in accordance with market principles. The transaction fully corresponds with ATEK’s strategy. I am sure that Sibur will provide further impetus in terms of the development of this company,” commented Alexander Grigoriev, representative of ATEK group.

© WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Metabolix forms joint venture with Korean Firm for C4 commercialization

  CAMBRIDGE, US: Metabolix Inc and CJ CheilJedang will jointly advance production technology and assess investment options for the commercializa ...

Read more
KBR licenses phenol technology to a Chinese firm

HOUSTON, US: KBR was awarded a contract by Lihuayi Weiyuan Chemical Co Ltd to license its phenol technology for Lihuayi’s grassroots, 220,000 to ...

Read more
Lanxess steps up investments in China

Groundbreaking for new leather chemicals plant in Changzhou Start-up of new high-tech plastics production line in Wuxi Opening of new technology c ...

Read more
Bayer reports higher operating income, continues positive momentum

  · Sales up 5.4 per cent on an adjusted basis to €9,252 million · Operating result (Ebit) advances 25.9 per cent ...

Read more
SC asks Hindustan Agro Chemicals to pay Rs 200 cr for defying orders

NEW DELHI, INDIA: The Supreme court has come down heavily on a chemical company for defying its orders for the past 15 years to pay Rs 37 crore compen ...

Read more
Nano sensor detects minute traces of plastic explosives

DARMSTADT, GERMANY: Working in collaboration with the RhineMain Polytechnic, materials scientists at the TU Darmstadt have developed an extremely sens ...

Read more