Sibur targets China sales to increase by up to 7% in 2011

19 May 2011 17:53  [Source: ICIS news]

MOSCOW (ICIS)--Russian petrochemical producer Sibur could increase its sales in China in 2011 by up to 7% year on year, the company said on Thursday.

China continues to be the most promising region for [Sibur’s] exports, and the company aims to expand its range of products namely in this direction. In 2011, [Sibur’s] sales in China could grow by 5-7% in monetary terms,” it said.

Last year, China accounted for more than €312m ($446m), or 14%, of Sibur’s total sales, with over €934m in sales for the Asian region as a whole.

Sibur said it sells a number of petrochemical products to China, including polyethylene (PE) and synthetic rubber.

In related news, Sibur said it plans to start up a new 500,000 tonne/year polypropylene (PP) plant in western Siberia by late 2012 and sell 20% of the facility’s output to Asia.

($1 = €0.70)

Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog

By: Sergei Blagov
+44 20 8652 3214

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