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.
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