Buyer for Sibur tyre business may emerge by year’s end
A buyer for Sibur Holding’s tyre business may be announced before the end of this year, Bloomberg reports. New owners Leonid Mikhelson and Gennady Timchenko are apparently “close” to securing buyers for Sibur-Russian Tyres plus the company’s Sibur-Fertilizers business; their sale forms part of the owners’ new focus on specialty chemicals, Bloomberg states.
In an interview with Bloomberg, Ilea Gustchin, head of Sibur’s international division, stated “moving into specialties is one of the opportunities that we are exploring right now. “We don’t want to go into specialty chemicals on our own. We really need good partners and a joint venture is a first step for us.” On 6 June 2011, Sibur and Rhodia announced having signed a letter of intent a joint venture in specialty surfactants, with a focus on creating a leader in the CIS market – yet according to Gutschin, this agreement is “only the beginning” for Sibur.