TOGLIATTI, Russia—Sibur has agreed to sell some of its synthetic rubber production assets in Togliatti to Tatneft.
Under the deal disclosed Sept. 2, Tatnef will acquire 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.
The deal is expected to be closed by the end of 2019 after completing all corporate procedures, antitrust approvals, and other statutory formalities. It also includes some infrastructural assets in the Togliattisintez chemical park, which accommodates a number of chemical and other technological companies.
Sibur said in a statement 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 added.
Through the acquisition, Tatneft aims to strengthen the vertical integration of its Kama Tyres business with the acquisition and increase its value, Sibur said.
After the acquisition, Tatneft intends to further develop the assets in line with its gas and petrochemical strategy.