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Sibur Acquires Polyolefin Processor

11:46 AM MDT | September 3, 2010 | Ian Young

Sibur (Moscow) has agreed to acquire plastics company Novatek-Polymer from Novatek (Tarko-Sale, Russia). Novatek will transfer 32% of Novatek-Polymer to Sibur on conclusion of the deal, and the rest will be transferred once the deal has been approved by Russia's antimonopoly authority. Financial terms were not disclosed. "The transaction is in line with Sibur's strategy to encourage the recycling of base polymers into its end products," says Sibur president Dmitry Konov. "In the coming years, the company will repeatedly increase its production...

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