9.10.2010

Sibur gets full control over OOO Novatek-Polymer

Russia’s petrochemical major Sibur has got the rest of the shares of OOO Novatek-Polymer, a former wholly-owned subsidiary of the Russian independent gas producer Novatek. Earlier the companies concluded the deal for the acquisition of 100% share capital of Novatek’s polymers unit. “A 32% share in the authorized capital of the enterprise was allocated at the conclusion of the contract on September 2, 2010. The remaining share of 68% was transferred after receiving approval for the deal from the Federal Antimonopoly Service of Russia,” Sibur said in a statement on its website.

Novatek-Polymer manufactures various polymer products including insulating tapes and films based on polyethylene and polypropylene. Among the products are polymer tapes and wrappers, heat-shrinkage belts, cuffs to protect pipe welds, polyethylene pipes and fittings. The company’s output amounts to about 30,000 tonnes per year. In 2009, Novatek-Polymer generated revenue of 1.9 billion roubles.

Метки:

Категории: News