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SIBUR Announces Acquisition of JSC Acrylate

Published on 2011-08-03. Author : SpecialChem

MOSCOW -- SIBUR has bought JSC Acrylate - the only CIS-based producer of acrylic acid and its esters* - from ATEK Group. JSC Acrylate's production site is located in the eastern industrial area of Dzerzhinsk, Nizhny Novgorod Region, and is just 2km from SIBUR's facility, which provides JSC Acrylate with its basic raw material - propylene.

The production capacity of JSC Acrylate's plant is 25 kta of ester grade acrylic acid, 36 kta of heavy esters (butyl acrylate) and 10 kta of light esters (methyl and ethyl acrylate). "The acquisition of JSC Acrylate will help accelerate development of the market for acrylic derivatives in Russia and the CIS. We, together with our partners, are considering the possibility of increasing the output capacity and expanding the processing of products by JSC Acrylate, said Valery Andosov, Head of the Project Office for Specialty Chemicals and Polymers at SIBUR.

The representative of the ATEK group, Alexander Grigoriev, commented: "The sale of Acrylate took place in accordance with market principles. The transaction fully corresponds with ATEK's strategy. I am sure that SIBUR will provide further impetus in terms of the development of this company."

"SIBUR is becoming a significant player in the acrylic acid sector and its derivatives," commented Sergey Merzlyakov, SIBUR Vice-President and Head of the Plastics and Organic Synthesis Directorate. "The bulk of production will go towards meeting demand from consumers, localising production on the attractive Russian market."

"The new acquisition represents another significant step in implementing the company's growth strategy in separate, carefully selected segments of specialty chemicals," concluded SIBUR President Dmitry Konov.

* Aylic acid and its esters are used in the production of a wide range of polymeric materials, acrylic dispersions, latex, copolymer adhesive compositions and superabsorbent products used in various industries. Waterproofing paint and varnish materials based on acrylates have a wide range of properties that distinguish them from traditional materials, such as the absence of volatile organic solvents in their composition, excellent adhesion to concrete, wood, metal and other materials, a high degree of water resistance and UV resistance. In addition, acrylic monomers are also used as additives in producing cement compositions. The use of acrylic monomers allows us to give the necessary properties to cement compositions and to increase or decrease the plasticity of mixtures, to increase the water resistance of products, or to reduce the cement content in the mixture, while maintaining or even increasing the strength of concrete and reducing the time required for concrete to harden. Production from JSC "Acrylate" is also used for manufacturing materials that are used in drilling oil and gas wells as regulators of the properties of drilling fluids and in the production of agents for water treatment.

About SIBUR

SIBUR is one of the leading petrochemical companies in Russia and Eastern Europe. The company has vertically integrated production, from the processing of associated petroleum gas to the production of monomers, plastics and synthetic rubber. In 2010, SIBUR's annual sales amounted to over 5.5 billion euros, and the company currently employs about 50,000 people. It produces more than 2,000 different products at facilities located in 26 regions of Russia.

Source: SIBUR


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