Tag Archives | sibur

Sibur’s new investor speeds up asset sales, builds stake

I had an interesting interview last week with Sibur CEO Dmitry Konov and the president of “Miracle”, the holding company formed by Leonid Mikhelson who is working towards a 100% takeover of the company. What strongly came across was a determination to keep Sibur separate from Novatek, the gas producer owned by Mikhelson. Longer term he […]

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Sibur stake is sold to owner of gas group Novatek

Rather out of the blue, Sibur owners Gazprombank have sold a 50% stake in the Russian petrochemical major to a company controlled by Leonid Mikhelson, CEO of Russia’s second-largest gas producer Novatek. Mikhelson has the option to boost this to 100%.  What this means for Sibur is anyone’s guess though Novatek would probably be a good […]

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Time is ripe for an IPO in London for Russia’s Sibur

Russian chemical giant, Sibur, is controlled and wholly owned by the country’s gas giant, Gazprom. I think it is high time the company was set free and allowed to boost its potential for growth through an initial public offering. An IPO would give it independence and also access to stock market funds, especially if it […]

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ITAR-TASS: MOSCOW, RUSSIA. SEPTEMBER 9, 2010. Russian PM Vladimir Putin (C) at a session of the Russian government s presidium. (Photo ITAR-TASS/ Maxim Shemetov) Photo via Newscom

Putin commits to Russian petrochemical development

Russian prime minister, Vladimir Putin, pledged yesterday to speed up development of the country’s petrochemical sector by removing barriers to new project development. ICIS news reports Putin said the authorities should remove “all administrative and infrastructure barriers” that hinder development of the petrochemical industry, speaking to a top-level meeting in the Nizhny Novgorod region on Monday. The […]

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Russia’s Sibur reveals plans for 1m tonne/year gas cracker

I’ve just interviewed Dmitry Konov, the young president of Russian petchem giant, Sibur. He celebrates his 40th birthday tomorrow (2 September) and has been in charge at Sibur since 2006. I also turned 40 this year but have not had quite so meteoric a career so far. Konov has really put Sibur into a period […]

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ICIS Top 10 CEE/Russia chemical company list: help!

I am compiling the 2010 ICIS Top 10 central and eastern Europe/Russia chemical companies list and I need your help! Please visit the spreadsheet I’ve set up and let me know if I am missing any companies. This list is based on the 2009 list.  These are the companies included so far: SIBUR, PKN ORLEN, […]

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EBRD to bail out RusVinyl PVC project

The European Bank for Reconstruction and Development is injecting cash into RusVinyl, the 330,000 tonnes/year world scale PVC plant located at Kstovo, Nizhniy Novgorod region, Russian Federation. Why it’s doing this is an interesting question. Is the project running out of finance? The EBRD has also approved an 11 year E150m loan with a three […]

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Sibur presentation reveals impact of Russian economic crisis

Russian chemical major Sibur has had to endure collapsing domestic demand in Russia, like all its peers. In an interesting presentation (see below), given by Viktor Viehweg, the company’s head of strategic development, he reveals the threats and opportunities posed by the crisis (see slide page 9). Sibur is threatened by falling demand for products, […]

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Sibur gives up plans for MBO

The Russian chemical major said today it will not relaunch plans for management buyout. According to ICIS news, its CEO Dmitry Konov ruled it out due to the recession. He said the $5.4bn deal is now “off the agenda”.I remember the last time Sibur managers tried to do an MBO, back in 2002. It all […]

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