Solvay Agrees RusVinyl Sale
Solvay has now finalized terms to sell its half share in Russian PVC producer RusVinyl to its joint venture partner Sibur.
Sibur
Solvay Discussing RusVinyl Sale
Solvay has announced it is in “advanced” talks to sell its 50% share of Russian PVC joint venture RusVinyl to partner Sibur. Russian government authorities have given their preliminary clearance for the transaction, which remains subject to several other regulatory approvals.
Sibur Selects Technip Energies as 1-Hexene Licensor
Russian petrochemicals giant Sibur has chosen French engineering company Technip Energies as the licensor of its 1-hexene technology, known as Hexsib. The technology was developed by NIOST, one of Sibur’s main R&D centers.
Mubadala Buys into Russia’s Sibur
Abu-Dhabi sovereign wealth fund Mubadala Investment Co. has acquired a 1.9% stake in Sibur, Russia’s largest integrated petrochemicals producer. Terms were agreed prior to Sibur’s merger with compatriot petrochemical producer TAIF, which Mubadala said is “bound to further the company’s position in the polyolefins and rubbers markets, contribute to the pipeline of growth capex projects and unlock additional operational synergies.”
A Pivotal Move to Net-Zero
Leading global chemical companies and the World Economic Forum (WEF) have announced that they are entering an agreement to formalize the Low-Carbon Emitting Technologies (LCET) initiative into a stand-alone entity by the end of 2023, to share early-stage risks and co-invest in developing and upscaling low-carbon emitting technologies.
Sibur and TAIF Finalize Petchems Merger
Sibur and TAIF have finalized the terms of their petrochemical merger. The move follows an announcement on Apr. 23 that the firms had initiated steps to create a combined company that will be Russia’s largest petrochemical producer and one of the top five global polyolefin and rubber producers.
Sibur and TAIF to Merge Petchems Businesses
Russian companies Sibur and TAIF are merging their petrochemical businesses in a move they said will create one of the world’s top five producers of polyolefins and rubber products. The merger, which remains subject to regulatory approval and the completion of relevant corporate procedures, could be finalized by the end of this year.
