Russia's Sibur finalises BOPP producer takeover

11 April 2012 10:06  [Source: ICIS news]

MOSCOW (ICIS)--Russian petrochemical holding company Sibur has finalised a deal to acquire a 100% stake in Biaxplen – one of Russia's major producers of biaxially oriented polypropylene (BOPP) film, Sibur said in a statement on Wednesday.

Biaxplen’s production facilities consist of three BOPP plants in Kursk, Moscow and Nizhny Novgorod, with a total capacity of 87,000 tonnes/year.

Sibur also owns another BOPP producer – BIAXPLEN-NK, based in Novokuybyshevsk, in central Russia’s Samara region. BIAXPLEN-NK will now become part of the BIAXPLEN Group.

In 2011, Biaxplen and BIAXPLEN-NK’s aggregate production totalled 82,000 tonnes of BOPP, while Sibur sold more than 65,000 tonnes of polypropylene (PP) to the companies, according to the statement.

In December 2009, Sibur announced a deal to purchase 50% interest in Biaxplen – a deal that was finalised in July 2010.

This latest move leaves Sibur the single owner of the film manufacturer.

By: Sergei Blagov
+44 20 8652 3214

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