InterviewSibur to consolidate in Europe - CEO
03 July 2007 17:36 [Source: ICIS news]
By Nigel Davis
LONDON (ICIS news)--Sibur will consolidate its position as a supplier to the European market and a domestic petrochemicals producer over the next five years, chief executive Dmitry Konov said on Tuesday.
“We believe we can be the second leading player in the European market after the Middle East,” Konov said at a press briefing in
It also intends to add significant polypropylene and polyethylene capacities at production locations in
No-one can match the margins of
Sibur produced an operating margin of 23% in 2006 compared with the 36% of SABIC, 13% of BASF and 11% of Dow Chemical, Sibur data shows.
Operating profits last year were roubles (Rb)23.1bn ($1.1bn) on sales of Rb121.9bn.
“If the cycle continues to be positive,” Konov said, “we will be able to improve margins. When the market turns down we will benefit.”
Sibur said its capacity utilisations were lifted in 2007 and that so far this year its plants were running at almost maximum capacity and there was not much room for further loading.
Sibur’s aim is to secure its position in the Russian market, Konov said, and to do that by optimising the benefits of upstream integration into gas separation and feedstock production.
The company produces hydrocarbon feedstocks, plastics and organic chemicals, synthetic rubbers and fertilizers.
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By: Nigel Davis
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