Sibur opts out of tyre business

Sibur opts out of tyre businessPETROCHEMICAL firm Sibur has completed the sale of 100% of Sibur-Russian Tyres (SRT) to a group of investors including the management of SRT and Vadim Gurinov, former CEO of Russia’s largest tyre manufacturer.

The disposal follows the restructuring of SRT with the sale of two of its non-core plants, OAO SIBUR- Volzhskiy, a manufacturer of synthetic fibres, which was acquired by CJSC Gazprom Stroy and OAO Volzhkiy Nitrogen and Oxygen Plant, which specialises in commercial-grade gas production and was sold to the ROEL Group.(PRA)