OREANDA-NEWS. September 30, 2010. SIBUR, the largest petrochemical holding company in Russia and Eastern Europe, has opened a Chinese trading company Citco (Shanghai) Trading Co., Ltd. The new company, registered in China, will be located in Shanghai and engage in sales of petrochemical products with payments in Chinese currency (yuan).

Until now exports of SIBUR's products to China were coordinated through the corporate trading company CITCO (Austria), with payments in U.S. dollars.

The SIBUR product portfolio includes liquefied petroleum gases, synthetic rubbers, plastics, fertilizers and liquid chemical products. Total SIBUR sales in China in 2009 amounted to more than 350,000 tons of petrochemical products with a value of around USD 500 million. In particular, more than 175,000 tons of plastics were sold, more than 71,000 tons of caprolactam, more than 53,000 tons of liquid chemical products, and more than 47,000 tons of synthetic rubber.  

For the convenience of Chinese partners, SIBUR has opened a corporate website in Chinese at the address: www.siburchina.cn. This resource will be constantly updated to inform consumers about latest news, new products, and the implementation of SIBUR's major investment projects. 

Background Information

SIBUR is the leader in the petrochemical industry in Russia and Eastern Europe with full coverage of the industry cycle from gas processing and production of monomers to the production of plastics, rubbers, fertilizers, tyres and rubber mechanical goods, as well as the processing of plastics. SIBUR is a vertically integrated company, in which the gas processing capacity provides the raw materials for the production of petrochemicals.

The company produces more than 2000 product items. In the Russian market, SIBUR processes more than half of the associated petroleum gas and produces 23% of the propylene, 23% of the polypropylene, 17% of the polyethylene, 30-49% of various types of rubber, 34% of tyres, 16% of nitrogen fertilizer, as well as a significant proportion of other petrochemical products.

The holding company unites enterprises in 20 regions of Russia with a total of more than 50,000 employees. Management is constructed on the principle of product division: SIBUR is composed of three directorates (Hydrocarbons, Plastics and organic synthesis, and Synthetic rubber) and two affiliated companies (SIBUR-Mineral Fertilizers and SIBUR-Russian Tyres).

The shareholders of JSC Sibur Holding are elements of JSC Gazprombank. The functions of the sole executive body are carried out by the management organization – LLC SIBUR.

The company shows a sustainable financial and operational performance. In 2009 the companies of SIBUR processed 16.8 billion m3 of associated petroleum gas, produced 15 million tons of petrochemical products and 14.8 billion m3 of dry stripped gas.