SIBUR to Integrate Tobolsk Businesses into a Standalone Business Unit

Source: www.gulfoilandgas.com 3/4/2016, Location: Asia

SIBUR resolved to integrate Tobolsk businesses into a standalone business unit, Tobolsk Industrial Site, poised to operate as the Company's Division. As part of the integration process, Tobolsk-Neftekhim was renamed to SIBUR Tobolsk. The integration of Tobolsk-Polymer, Tobolsk HPP and SIBUR Tobolsk is slated for completion in 2016.

An increase in gas fractionation capacities, the launch of polypropylene production, integration of power generation assets and construction of ZapSibNeftekhim are set to play up the significance of SIBUR's Tobolsk platform and facilitate the development of an integrated management approach.

The new business unit is expected to manage all the production operations, including gas fractionation, production of monomers, MTBE, propylene and polypropylene, and heat and power generation. It will also be tasked with laying the groundwork for the launch of ZapSibNeftekhim's operations.

On top of that, the integration will improve the site's efficiency through optimisation of the governance framework, reduction in the document flow and implementation of standard uniform processes.

Konstantin Belkin, Managing Director and member of SIBUR's Management Board, has been appointed as head of the Tobolsk Industrial Site. Mr Belkin will also be in charge of SIBUR Tobolsk.

The name changes will not affect the Company's obligations to third parties.


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