31 January 2014 13:37 [Source: ICIS news]
LONDON (ICIS)--Russia-based petrochemical major SIBUR on Friday announced the completed sale of its 100% stake in Oka-Polymer Industrial Park located in Dzerzhinsk, the Nizhny Novgorod Region, to Tosol-Sintez.
Financial details were not disclosed.
Tosol-Sintez, a resident of the park, is a producer of brake fluids, coolants, washer fluids, engine oils, car components and materials. It also processes polymers and ethylene oxide for the production needs of the automotive and construction industries
The sale of the industrial park is part of SIBUR’s strategy of divesting non-core assets, the company said.
Tosol-Sintez plans to secure big investments for the Oka-Polymer industrial park’s development, create new jobs, it added.
“Tosol-Sintez intends to make a particular focus on science-based and high technology production to leverage its competencies in processing polymers and organic synthesis products along with expertise in marketing and distribution management,” SIBUR said.
In February 2013, SIBUR agreed to sell its coolants and brake liquid production facilities on the Oka-Polymer industrial park’s site to Tosol-Sintez.
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