Sibur gets go ahead for Matador-Omskshina acquisition
Russia’s Government Commission on Monitoring Foreign Investment has given the green light for Sibur-Russian Tyres to acquire a 100 per cent interest in the Matador-Omskshina joint-venture, which it previously operated 50/50 with Continental AG. Following the acquisition, the joint venture operation has been renamed Cordiant-Vostok. Sibur-Russian Tyres says the 100 per cent acquisition will enable it to increase manufacturing capacity in order to meet growing demand for passenger car tyres.