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




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