MOSCOW—Russian petrochemicals group Sibur Holding has reported a decline in elastomer sales, due mainly to the divestment of its rubber assets in Tolyatti, Russia, late last year.
First quarter revenue from elastomer sales fell 31 percent to about $141 million, as volumes fell 21 percent to 107,000 metric tons during the three months to end of March, Sibur reported May 14.
Earnings for the Plastic, Elastomers and Intermediates segment fell 56 percent to around $35.3 million, mainly due to negative currency effects and lower sales volumes of elastomers.
Sibur sold some of its synthetic rubber production assets in Toglyatti, western Russia to Tatneft in November. Under the deal, Tatnef acquired Sibur's production facilities for various types of synthetic rubber, MTBE high-octane fuel component, butadiene, isoprene, and other intermediates.
The divested facility has the capacity to produce 82,000 tons of emulsion styrene butadiene (ESBR 60) and butyl rubber (IIR75) each year, Sibur told ERJ when the deal was disclosed in September 2019.