Sibur sells Saransk rubber goods plant to Kurskrezinotechnika

ERJ staff report (DS)

Moscow -- Sibur - Russian Tyres (SRT) has finalised a deal in which it will sell over 83 percent of its shares in the technical rubber goods sibsidiary JSC "Saransk Plant" Rezinotechnika "(SZRT) to domestic rival, Kurskrezinotekhnika.

In a statement, SRT said, "This transaction is in line with the strategy of the Holding Company "Sibur - Russian Tyres" by focusing on the development of manufacturing tyre products."

The Saransk and Kursk Rezinotechnica (technical rubber goods) factories are two of the largst in Russia and serve primarily the domestic automotive sector.

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Press release from Sibur - Russian Tyres (Russian language)

Above Press release auto-translated into English from Russian