Russia's Soda Sterlitamak, Caustic Sterlitamak to merge
22 February 2011 15:14 [Source: ICIS news]
MOSCOW (ICIS)--?xml:namespace>Russia's Federal Anti-Monopoly Service (FAS) has approved a request from Soda Sterlitamak and Caustic Sterlitamak to merge the two companies into one entity, it said in a statement on Tuesday.
Soda Sterlitamak is the country's major soda ash producer while Caustic Sterlitamak produces caustic soda, PVC among other products.
Both plants are based in Sterlitamak, Bashkortostan region in Central Russia, and are controlled by Russia's Bashkirskaya Khimiya holding company.
In June 2010, Bashkirskaya Khimiya used Caustic Sterlitamak as a vehicle to acquire a 94% interest in Berezniki Soda Plant, another soda ash producer, for €134m ($181m).
($1 = €0.74)
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