RSS feed: news [?]

Home » News » NOVATEK disposes of equity interest in NOVATEK-POLYMER

NOVATEK Ltd. (“NOVATEK” and/or the “Company”) announced that the Company has signed the necessary documents for the disposal of its 100% equity interest in OOO NOVATEK-Polymer (NOVATEK-Polymer) to JSC SIBUR Holding (SIBUR). According to the Sales and Purchase Agreement, NOVATEK will initially transfer a 32% equity interest in NOVATEK-Polymer to SIBUR and will transfer the remaining 68% upon approval from the Federal Anti-Monopoly Service. The disposal of its industrial manufacturing subsidiary is consistent with the Company’s strategy to focus on its core natural gas and gas condensate production and processing activities. NOVATEK-Polymer’s sales account for less than 3% of NOVATEK’s total revenues. NOVATEK-Polymer is one of the largest Russian and CIS producers of anti-corrosive insulating materials used on underground pipelines and produces more than ten types of polypropylene film and wrap.

All rights reserved. No information from the web site may be reproduced without the permission of the magazine's editorial board.

© Eurasian chemical market, 2005-2012