Tatneft and SIBUR completed the transaction in relation to petrochemical plant in Togliatti
Almetyevsk. Tatneft completed the acquisition of SIBUR’s petrochemical plant in Togliatti. The agreement of intent regarding the acquisition of assets, including the production of various types of synthetic rubber, used for the manufacture of high-performance tyres by leading Russian and foreign producers: MTBE, butadiene, isoprene, was signed by the companies at the end of August 2019.
The transaction was approved by the Federal Antimonopoly Service of the Russian Federation on October 3, 2019 and was completed on November 1, 2019.
Tatneft expects that the completion of transaction will allow to satisfy the needs of its tire business (https://kamatyres.com/) for the main types of synthetic rubber.
Following the acquisition Tatneft plans to integrate the acquired asset into its manufacturing and product supply chains and to continue the production development within the framework of its petrochemical strategy.
SIBUR will focus on the creation and development of base polymers production of the universal applicability representing promising medium-scale and premium products specialty chemicals. At the same time, SIBUR will remain one of the key manufacturing partners of acquired plant.