SIBUR and TAIF merge to create one of the largest petrochem companies
SIBUR and TAIF have entered into an agreement finalising the creation of a combined entity that be the largest petrochemical company in Russia and one of the biggest in the world.
Under the agreement, TAIF shareholders will receive a 15% stake in the new combined company in exchange for 50% plus 1 share in JSC TAIF.
The new company will support Russia’s leadership in the chemical, petrochemical, and oil and gas sectors.
The collaboration will also make the country’s products more globally competitive thanks to economies of scale, higher production efficiency, better sales processes, and improved customer service in line with global best practices.
Following the completion of all ongoing investment projects, the new combined company will be among the top five producers of polyolefin and rubber globally.
The company’s investment programme will yield further growth of chemical non-commodity exports and import substitution, and also unlock new ways of tackling sustainability and environmental challenges.
The deal brings together the two companies’ expertise in major investment projects and facilitates efficient distribution of feedstock, which will boost Tatarstan's petrochemical cluster and pave the way for new partnerships with the region.
As part of the transaction, Rustam Minnikhanov, president of Tatarstan, and Leonid Mikhelson, chairman of the board of directors at PJSC SIBUR Holding, signed a cooperation agreement between the Tatarstan government and the company.
Under the agreement, TAIF shareholders will receive a 15% stake in the new combined company in exchange for 50% plus 1 share in JSC TAIF.
The new company will support Russia’s leadership in the chemical, petrochemical, and oil and gas sectors.
The collaboration will also make the country’s products more globally competitive thanks to economies of scale, higher production efficiency, better sales processes, and improved customer service in line with global best practices.
Following the completion of all ongoing investment projects, the new combined company will be among the top five producers of polyolefin and rubber globally.
The company’s investment programme will yield further growth of chemical non-commodity exports and import substitution, and also unlock new ways of tackling sustainability and environmental challenges.
The deal brings together the two companies’ expertise in major investment projects and facilitates efficient distribution of feedstock, which will boost Tatarstan's petrochemical cluster and pave the way for new partnerships with the region.
As part of the transaction, Rustam Minnikhanov, president of Tatarstan, and Leonid Mikhelson, chairman of the board of directors at PJSC SIBUR Holding, signed a cooperation agreement between the Tatarstan government and the company.
