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 ?xml:namespace>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 blogBy: Sergei Blagov+44 20 8652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.