13.11.2010

Sibur and Tatneft ready to merge tyre assets

The Federal Antimonopoly Service of Russia has received an application for the merger of Sibur and Tatneft’s tyre assets. The new tyre company is expected to include OAO Sibur-Russian Tyres and OAO Nizhnekamskshina. Tatneft will hold a 51% stake in the new company, the rest 49% will be owned by Sibur. Sibur will also manage the combined tyre assets. At the same time, another three applications were submitted to the Russian antitrust watchdog. They are related to SIBUR Finance Luxembourg Sarl’s acquisition of a 100% stake in Sibur-Russian Tyres from OAO Tyre Invest, Zartel Limited’s acquisition of Sibur-Russian Tyres from SIBUR Finance Luxembourg Sarl and Zartel Limited’s deal to buy a 73.5% stake in Nizhnekamskshina from Laysan Investments, which makes Zartel Limited the owner of the merged assets of Sibur-Russian Tyres and Nizhnekamskshina.

OAO Sibur-Russian Tyres includes tyre plants in Yaroslavl, Omsk, Voltyre-Prom, Uralshina, the Matador-Omskshina joint venture with Continental AG, the Saransk plant of rubber technical products and the synthetic cord producer Sibur-Volzhsy. In 2009, the company’s revenue totalled 20.1 billion roubles. OAO Nizhnekamskshina, part of Tatneft’s petrochemical business unit, consists of three plants manufacturing commodity tyres, truck tyres and radial car tyres of the Kama-Euro brand. The company produces 12 million tyres per year. Its revenue amounted to 6.88 billion roubles in 2009.

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