Sibur

SIBUR (PJSC SIBUR Holding) is a Russian gas processing and petrochemicals company headquartered in Moscow. SIBUR operates 26 production sites located all over Russia, had over 1,400 major customers engaged in the energy, automotive, construction, fast moving consumer goods (FMCG), chemical and other industries in approximately 70 countries worldwide and employed over 25,000 personnel. In 2014, its revenue was RR 361,000 million and EBITDA RR 102,767 million.

History

The company was founded by an act passed by the Government of the Russian Federation in March 1995, with 38% of its shares state owned. The remaining 62% of the company was made public.

Towards the end of 1998, SIBUR started its transformation into a vertically integrated petrochemical holding with a full production chain from the processing of raw materials through to the manufacture of finished goods. SIBUR subsequently built up assets by buying stakes in petrochemical companies all over Russia. As a result, some 60 companies soon belonged to the company.

By 2001, Gazprom had acquired control of SIBUR with a 51% stake. Alexander Dyukov was appointed president in February 2003 and oversaw significant reform with the introduction of a long-term growth strategy.

By September, the stock was divided between Gazprom (25%) and Gazprombank (75%). Dyukov was succeeded by Dmitry Konov as SIBUR’s new president towards the end of 2006.

Gazprom decided that the petrochemical business was a non-core asset in 2008, and SIBUR shares were sold to Gazfund in exchange for its energy assets. Both Gazprombank and Gazfund also withdrew from the Gazprom group. In December 2010 Gazprombank began a phased sale of SIBUR to a private shareholder, Leonid Mikhelson.

By the autumn of 2011, 100% of SIBUR came to be owned by the company SIBUR Limited, which since 2013 is 82.5% owned by Leonid Mikhelson and Gennady Timchenko. The owners of the remaining 17.5% include SIBUR's former and current top management.

In 2014 a firm wholly owned by Kirill Shamalov, Deputy Chairman of the Management Board of SIBUR,has acquired 17% in SIBUR Holding, previously beneficially owned by entities under control of Gennady Timchenko. Following this transaction, Kirill Shamalov’s ownership in SIBUR increased to 21.3%.

Following completion of this transaction, the ownership structure of SIBUR as at 5 September 2014 is as follows: Leonid Mikhelson – 50.2% Kirill Shamalov – 21.3% Gennady Timchenko – 15.3% Current and former managers of SIBUR Holding (excluding Kirill Shamalov) – 13.2%

Business segments

Feedstock & Energy

The Group’s feedstock and energy segment comprises:

SIBUR’s feedstock processing infrastructure includes seven out of the nine existing GPPs in Western Siberia, five compressor stations and three GFUs. As of 31 December 2014, SIBUR had APG processing capacity of 23.1 billion cubic metres per annum and raw NGL fractionation capacity of 8.8 million tonnes per annum. SIBUR sells energy products on the Russian and international markets and uses some of them as feedstock for its petrochemicals segment, which processes them into various petrochemicals, including basic polymers, synthetic rubbers, plastics and products of organic synthesis, as well as intermediates and other chemicals.

Feedstock & Energy Facilities

Petrochemicals

Workers of the Tobolsk-Polimer chemical plant

In its petrochemicals business, the Group operates three steam cracker facilities, one PDH unit, two basic polymers production plants, manufacturing low density polyethylene (LDPE) and polypropylene (PP), three synthetic rubbers production plants, manufacturing commodity and specialty rubbers as well as thermoplastic elastomers, and 13 production plants manufacturing plastics and organic synthesis products, including polyethylene terephthalate, glycols, alcohols, BOPP-films, expandable polystyrene, acrylates as well as a wide range of intermediate chemicals. As of 31 December 2014, the Group’s basic polymers production capacity was 995,000[1] tonnes per annum, synthetic rubbers production capacity was 573,000 tonnes per annum and plastics and products of organic synthesis production capacity was 1,008,800 tonnes per annum.

Basic Polymers Facilities

Tobolsk-Polymer complex.

Plastics & Organic Synthesis Products Facilities

Synthetic Rubbers Facilities

– OAO Krasnoyarsk Synthetic Rubbers Plant (100%)

Tyre Business

At the end of December 2011, SIBUR fully exited SIBUR-Russian Tyres, having sold a 75% stake to the company's management, and the remaining stake to the partners of Vadim Gurinov, its CEO.[3]

Mineral Fertiliser Business

At the end of December 2011, SIBUR sold its mineral fertiliser assets to URALCHEM (Mineral Fertilisers, Perm) and Siberian Business Union (Kemerovo Azot and Angarsk Azotno-Tukovy Zavod).[4]

Acquisitions

Joint Ventures

External links

References

  1. ↑ Including 100% of processing capacity of NPP Neftekhimia, SIBUR’s JV with the Gazprom Neft Group
  2. ↑ 2.0 2.1 "India’s butyl rubber import my end once Russian JV starts in 2015". IANS. news.biharprabha.com. Retrieved 24 April 2014.
  3. ↑ "Russia's Sibur divests tyre business". ICIS News.
  4. ↑ "Sibur to Sell Fertilizer Assets to Siberian Business Union". Bloomberg.