Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Tire
    • Airless Tires
    • Non-Tire
    • More News
    • Suppliers
    • Silicone
    • Latex
    • Technical Notebooks
    • Opinion
    • Online Exclusive
    • Special Reports
    • Automotive
    • Executive Action
    • Government/Legal
    • Sustainability
    • Blogs
      • Products
      • Wacky World of Rubber
    • PFAS
    • Best Places to Work
    • War in Ukraine
    • International Tire Exhibition & Conference
    • Women Breaking the Mold
  • Rubber Division IEC
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • PFAS Live
    • Ask the Expert
    • International Tire Exhibition & Conference (ITEC)
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Financial
November 09, 2020 03:44 PM

'Slow recovery' for Sibur elastomer unit as China demand picks up

European Rubber Journal Report
  • Tweet
  • Share
  • Share
  • Email
  • More

    MOSCOW—Sibur Holding's elastomers sales declined 32 percent in the third quarter, but the Russian petrochemicals supplier can see signs of slow recovery.

    Segment revenue fell to $116.6 million during the three months, as global shutdowns by automotive manufacturers sharply reduced demand for tire rubber.

    In its quarterly report, however, Sibur noted a "slow recovery" in the third quarter, mostly driven by "healthy growth of car sales in China."

    Elastomers volumes fell 18.7 percent to 321,000 metric tons during the three-month period, reflecting the sale of Togliatti-based assets in the final quarter of 2019.

    Over the first nine months of the year, segment revenue fell 33.4 percent to $550 million, Sibur added.

    Sibur's elastomers operations are part of its Plastics, Elastomers & Intermediates business unit, and contributed 33 percent of sales within the unit.

    Overall, the unit reported a 13 percent year-on-year decline in third quarter adjusted earnings, to $61.6 million. For the first nine months of the year, the unit's adjusted earnings fell 39 percent to $131 million.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Merger: Tipco Technologies, HydraTech join forces for hose distribution
    2
    Consumer Reports: EVs are far less reliable than ICE
    3
    Kumho, Synthos partner on neodymium-butadiene rubber
    4
    EPA targets hazardous emissions from tire rubber mixing
    5
    Watch: Continental all-in with simulation in tire development
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Tire
      • Airless Tires
      • Non-Tire
      • More News
        • Automotive
        • Executive Action
        • Government/Legal
        • Sustainability
        • Blogs
          • Products
          • Wacky World of Rubber
      • Suppliers
      • Silicone
      • Latex
      • Technical Notebooks
      • Opinion
      • Online Exclusive
      • Special Reports
        • PFAS
        • Best Places to Work
        • War in Ukraine
        • International Tire Exhibition & Conference
        • Women Breaking the Mold
    • Rubber Division IEC
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • International Tire Exhibition & Conference (ITEC)
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • PFAS Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION