Russia: Sale of Assets Tatneft Acquires Sibur’s Petrochemical Facilities
Tatneft and Sibur have closed the sale and purchase of some production and other assets belonging to Sibur. With this move, Tatneft aims to develop the assets in line with its gas and petrochemical strategy while Sibur will focus on developing large-scale production of basic polymers and premium special chemicals.
Togliatti/Russia – Sibur and Tatneft have recently closed the sale and purchase of certain production and other assets that to date have been registered in the name of Sibur Togliatti and Togliattisintez legal entities.
After the deal, Tatneft intends to further develop the acquired assets in line with its gas and petrochemical strategy, while Sibur will concentrate efforts on establishing and developing global-scale production of basic polymers, high-potential medium-tonnage products and premium special chemicals.
“Our main focus is on the long-term development of our core business and operational excellence,” said Pavel Lyakhovich, member of the Management Board and Managing Director at Sibur. “At the same time, we will continue to cooperate with the Togliatti-based companies as partners.”