TOGLIATTI, Russia—Sibur has closed the sale of some of its synthetic rubber production assets in Togliatti to Tatneft, the company said in a Nov. 1 statement.
Under the deal, Tatnef has acquired Sibur's production facilities for various types of synthetic rubber, MTBE high-octane fuel component, butadiene, isoprene, and other intermediates.
The facility has the capacity to produces 82,000 metric tons per year of emulsion styrene butadiene (ESBR 60) and butyl rubber (IIR75), Sibur said when the deal was disclosed in September.
Sibur said at the time that the decision was prompted by the company's increased focus on polymers with global capacities, perspective medium tonnage products and premium special chemistry.
"At the same time, the business of elastomers (synthetic rubbers) makes a stable positive contribution within the framework of a vertically integrated model of the company, therefore, for today we remain in this business and develop its individual directions," the company said.
Through the acquisition, Tatneft aims to strengthen the vertical integration of its Kama Tyres business with the acquisition and increase its value, according to Sibur. Post-acquisition, Tatneft intends to further develop the assets in line with its gas and petrochemical strategy.
The agreement also includes some infrastructural assets in the Togliattisintez chemical park, which accommodates several chemical and other technological companies.