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Sibur Acquires JSC Acrylate, CIS-based Producer of Acrylic Acid and its Esters

Published on 2011-08-02. Author : SpecialChem

Moscow -- SIBUR has bought JSC Acrylate - the only CIS-based producer of acrylic acid and its esters -- from ATEK Group.

JSC Acrylate's production site is located in the eastern industrial area of Dzerzhinsk, Nizhny Novgorod Region, and is just 2km 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).

"The acquisition of JSC Acrylate will help acceleratedevelopment of the market for acrylic derivatives in Russia and the CIS. We, together with our partners, are considering the possibility of increasing the output capacity and expanding the processing of products by JSC Acrylate, said Valery Andosov, Head of the Project Office for Specialty Chemicals and Polymers at SIBUR.

The representative of the ATEK group, Alexander Grigoriev, commented:"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."

"SIBUR is becoming a significant player in the acrylic acid sector and its derivatives," commented Sergey Merzlyakov, SIBUR Vice-President and Head of the Plastics and Organic Synthesis Directorate."The bulk of production will go towards meeting demand from consumers, localising production on the attractive Russian market."

"The new acquisition represents another significant step in implementing the company's growth strategy in separate, carefully selected segments of specialty chemicals," concluded SIBUR President Dmitry Konov.

About SIBUR

SIBUR is the leading petrochemical company in Russia and Eastern Europe. The company has vertically integrated production, from the processing of associated petroleum gas to the production of monomers, plastics and synthetic rubber. In 2010, SIBUR's annual sales amounted to over 5.5 billion euros, and the company currently employs about 50,000 people. It produces more than 2,000 different products at facilities located in 26 regions of Russia.

Source: SIBUR


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