Russia's petrochemical producer Sibur said Monday it has sold its 100% stake in Uralorgsintez to Ektos, a producer of high-octane fuel components.
Uralorgsintez produces LPG, and has a hydrocarbon fractionation capacity of 910,000 mt/year. The company's MTBE production capacity is 220,000 mt/year, and benzene 95,000 mt/year.
As part of the Rb22 billion($392 million) deal Sibur and Ektos signed a long-term agreement on guaranteed capacity utilization of Uralorgsintez's core facilities.
"The agreement with Ektos is is in line with our strategy to divest non-priority businesses," said Pavel Lyakhovich, Sibur's Managing Director.
