Sibur reports decline in first quarter elastomer sales  

Moscow – Russian petrochemicals group Sibur Holding has reported a decline in elastomer sales, due mainly to the divestment of its rubber assets in Toliatti late last year.

First quarter revenue from elastomer sales fell 31% to Rub10 billion (€126 million), as volumes fell 21% to 107 kilotonnes during the three months to end of March, Sibur reported 14 May.

Earnings for the Plastic, Elastomers and Intermediates segment, which includes the elastomer business, fell 56% to Rub2.5 billion, mainly due to negative currency effects and lower sales volumes of elastomers.

Sibur sold some of its synthetic rubber production assets in Togliatti, western Russia to Tatneft in November last year. 

Under the deal, Tatnef acquired Sibur's production facilities for various types of synthetic rubber, MTBE high-octane fuel component, butadiene, isoprene, and other intermediates.

The divested facility has the capacity to produces 82 kilotonnes per annum (ktpa) of emulsion styrene butadiene (ESBR 60) and butyl rubber (IIR75), Sibur told ERJ in September 2019, when the deal was originally announced.