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'''SIBUR''' is a Russian petrochemicals company controlled by Russian billionaire ]. The activities of SIBUR include the entire petrochemical process chain from gas processing, production of monomers, plastics and synthetic rubbers to the processing of plastics. SIBUR is a vertically integrated company with its gas processing facilities providing feedstock for its petrochemical production. | ||
| SIBUR produces more than 2,000 different types of products. The Company has strong positions in the Russian petrochemical market. It processes more than half of Russia’s APG and produces 22% of its propylene, 19% of its polypropylene, 16% of its polyethylene, 44% of its synthetic rubbers, and a considerable share of other petrochemical products. | |||
| Russian billionaire Leonid Mikhelson has concluded his planned full takeover of Russia’s leading polymers and petrochemicals company Sibur Holding, through his investment firm Dellawood Holdings. | |||
| While Mikhelson has upped his stake in Sibur from 50% to 57.5%, his partner in Cyprus-based Dellawood and energy trader ] acquired a 37.5% shareholding in the petrochemicals group. The remaining 5% stake is held by Sibur’s top management. | |||
| In December 2010, Mikhelson, head of Russia’s leading non-state owned gas producer ], bought a 25% share of Sibur from the giant state run ] energy group, through Dellawood offshoot Miracle. That purchase came with an option to increase the stake to 50% which Mikhelson took up early this year. | |||
| Gazprom group’s former investment vehicle Gazprombank valued Sibur at €5.5bn ($7.35bn) excluding debt at the end of last year, according to the Reuters news agency. But the value of the latest takeover deal has not been formally disclosed. | |||
| Timchenko, a fellow majority shareholder of Novatek with Mikhelson, backs the current Sibur management and supports the petrochemicals company’s existing development strategy. | |||
| "Sibur is one of Russia's fastest-growing companies, and that is why I was keen to accept Leonid Mikhelson's offer to become a shareholder. Sibur's management team is highly qualified for the job," Reuters quoted Timchenko as saying as the deal was announced on 28 October. | |||
| Mikhelson was attracted to Sibur because of Russia’s ample feedstocks, its expanding market and a domestic undersupply of petrochemical products. | |||
| Longer term, Mikhelson is believed to want to take Sibur, which reprocesses more than half Russia’s natural gas, public. But a more immediate priority is the disposal of Sibur’s non-core activities: fertilizer and tyre production. | |||
| SIBUR owns plants that employ more than 50,000 people in 26 regions of Russia. The Company is managed along product-division lines: it incorporates Hydrocarbon Feedstock Division, Basic Polymers Division, Plastics and Organic Synthesis Products Division, Synthetic Rubbers Division. | |||
| Over recent years, the Company has consistently delivered robust financial and operational results. | |||
| In December 2010, Gazprombank decided in favour of a phased sale of SIBUR to a private shareholder, Leonid Mikhelson. By the autumn of 2011, 100% of CJSC "SIBUR Holding" came to be owned by the company SIBUR Limited, which is 57.5% owned by Leonid Michelson and 37.5% by Gennady Timchenko. The owners of the remaining 5% include SIBUR top managers and Alexander Dyukov, the Vice Chairman of the Board of Directors of the CJSC "SIBUR Holding". | |||
| ] reported in September 2001 that ] "colluded with Sibur in coordinating share bids in ]".<ref>{{cite web | url=http://www.rferl.org/content/article/1065233.html | title=Russia: Does Gazprom Have A Master Pipeline Plan?|date=January 30, 2006|author=Roman Kupchinsky}}</ref> | |||
| ==References== | ==References== | ||
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| ==See also== | ==See also== | ||
| *] | |||
| ==External links== | ==External links== | ||
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| ] | ] | ||
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Revision as of 12:40, 24 January 2012
SIBUR is a Russian petrochemicals company controlled by Russian billionaire Leonid Mikhelson. The activities of SIBUR include the entire petrochemical process chain from gas processing, production of monomers, plastics and synthetic rubbers to the processing of plastics. SIBUR is a vertically integrated company with its gas processing facilities providing feedstock for its petrochemical production.
SIBUR produces more than 2,000 different types of products. The Company has strong positions in the Russian petrochemical market. It processes more than half of Russia’s APG and produces 22% of its propylene, 19% of its polypropylene, 16% of its polyethylene, 44% of its synthetic rubbers, and a considerable share of other petrochemical products.
SIBUR owns plants that employ more than 50,000 people in 26 regions of Russia. The Company is managed along product-division lines: it incorporates Hydrocarbon Feedstock Division, Basic Polymers Division, Plastics and Organic Synthesis Products Division, Synthetic Rubbers Division.
Over recent years, the Company has consistently delivered robust financial and operational results.
In December 2010, Gazprombank decided in favour of a phased sale of SIBUR to a private shareholder, Leonid Mikhelson. By the autumn of 2011, 100% of CJSC "SIBUR Holding" came to be owned by the company SIBUR Limited, which is 57.5% owned by Leonid Michelson and 37.5% by Gennady Timchenko. The owners of the remaining 5% include SIBUR top managers and Alexander Dyukov, the Vice Chairman of the Board of Directors of the CJSC "SIBUR Holding".