Sibur to buy Conti's stake in Matador-Omskshina

Administrator Mon Jul 11, 2011 2:08 pm

Sibur to buy Conti's stake in Matador-Omskshina - report
11 July 2011

Omsk, Russia -- Kommersant, a usually-reliable news agency, is saying that Sibur-Russian Tyres is planning to buy out its partner in the Matador Omskshina tyre factory.

Conti has held a 50 percent stake in JSC Matador Omskshina since it acquired the assets of Matador in 2007. This has remained Conti's only tyre production unit in Russia, but Conti recently announced plans to build a tryre factory in the region.

In additoin, Sibur-Russian Tyres is negotiating the transfer of its tyre-making assets to joint venture companies involving Pirelli and Russian Technologies. A joint venture with Conti would complicate the Pirelli deal.

The Kommersant report said "JSC Matador-Omskshina was established in 1995, specialises in branded passenger and light truck tyres. Capacity is about 2.9 million tyres per year. In 2010, produced 2.8 million tyres."