Global Polyurethane

简体中文 | 繁体中文

 
Home | News |Sinopec completes minority investment in Sibur
Sinopec completes minority investment in Sibur
Updated: 2015-12-24 13:55 Source: Market Report Company share:

China Petroleum and Chemical Corp. (Sinopec), has completed its 10-percent minority investment in Russian petrochemical company Sibur to serve as a strategic investor, said the company on its site.

Sibur said in a statement that the transaction would "deepen the cooperation between the two companies and create value for both."

Sibur said the investment also could improve the market position of both companies, as well as "the strategic cooperation between China and Russia."

Sinopec will have the right to nominate a representative for Sibur’s board of directors as a strategic investor.

"Sibur’s vertically-integrated upstream and petrochemicals business model is highly complementary with Sinopec’s businesses," said Wang Yupu, chairman of Sinopec.

Wang said the transaction was in line with Sinopec’s objective to expand its petrochemical business overseas.

The two sides signed a strategic partnership agreement in September.

As a next step, said Sibur, the companies are considering Sinopec’s participation in the Amur Gas Chemical Complex project as a strategic partner with Sibur.


Reprinted statement: This article is reprinted from other website,not representing the the stand of our website but the opinions of the original author, who reserves the copyright of this article. Please advise if any infringement. We will remove it as soon as possible.

 

About us | Service | Feedback | Terms of Privacy | Contact us

Tel:+8621-56526182, Fax:(+86)21-56525833, Email:enservices@puworld.com

Copyright 2012 http://www.puworld.com All rights reserved.