Ektosintez, the owner of a petrochemical enterprise in Volzhsky, has closed the deal for buyout of 100% of the Uralorgsintez enterprise’s shares (Chaykovskiy, Perm Krai) from Sibur Holding.
But Sibur Holding will continue supplying supply raw materials for processing to Uralorgsintez, the company informed on Monday. Ektos and Uralorgsintez produce methyl-tert-butyl ether (MTBE), which is then used in the production of gasoline to boost the octane rating of the fuel, they also produce liquefied hydrocarbon gases (LHCG).
The deal, the value of which amounts to 22 bln rubles, will allow Ektosintez to increase its manufacturing capacities for MTBE production more than twofold. The enterprise’s capacities in Volzhsky allow for manufacturing 160 thous. t/year of MTBE, and Uralorgsintez’s capabilities, for 220 thous. t/year. In 2016, MTBE production amounted to 149.6 thous. t by Ektosintez, and to 204.9 thous. t by Uralorgsintez, according to the Ministry of Energy’s and the market participants’ data.
Sibur Holding, Russia’s largest manufacturer of liquefied hydrocarbon gases (LHCG), has decided to sell Uralorgsintez as a non-core asset, as explained by Pavel Lyakhovich, Chief Operations Officer of Sibur Holding. But he emphasized that Sibur Holding will remain Uralorgsintez’s key partner. ”Within the frame of the deal between the companies, a number of long-term agreements have been signed, including agreements for refining processing and raw material supply with guaranteed workload volumes for Uralorgsintez’s main plants”, Sibur Holding’s statement says.
Ссылка на источник: Argus Media — ведущее независимое ценовое агентство