25 July 2011 15:41 [Source: ICIS news]
MOSCOW (ICIS)--Russian petrochemicals holding company Sibur has agreed to transfer its tyre-producing assets to a joint venture being formed by ?xml:namespace>
The agreement, signed on Monday, includes the transfer of the
Sibur will also transfer other tyre-making assets, which should bring the joint venture's output up to 11m pieces/year by 2014, in exchange for a total of €222m ($317m), the statement said.
The joint venture is due to manage the assets in line with Pirelli standards, following the memorandum of understanding (MOU) signed on 26 November, 2010.
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