Sibur to merge tyre business with Nizhnekamsk - report

ERJ staff report (DS)

Moscow -- Russian press is reporting that Sibur and Tatneft are to merge their respective tyre activities. The combination of Sibur Russian Tyres and Nizhnekamskshina would be a formidable force in the Russian tyre sector, given that Sibur is now the largest creditor of Amtel, and hence has nominal control over Amtel's tyre building assets.

The story was first broken by the Vedomosti business daily on Monday of this week, quoting Sibur head Vadim Gurinov and confirmed by a Tatneft official. Neither Sibur nor Tatneft had responded to ERJ requests for clarification at press time.

The move is being seen as a bid to resist inroads by international companies who are building or have biult tyre factories in the Russian sphere.

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Press Report from Ria Novosti