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"SIBUR" and Chinese Sinopec concluded an agreement on the establishment in China of a joint venture to produce rubber
SIBUR and China's Sinopec signed an agreement to establish a joint venture in China for the production of nitrile butadiene rubber (NBR) with a capacity of 50 tons per year.
The companies also signed a licensing agreement under which BNK at the new plant will be produced using SIBUR's technology. SIBUR employees will join the joint venture and set up production at the plant.
"The Chinese market is developing dynamically and is focused on import substitution. Sinopec has a significant resource base and holds a leading position in the regional market.
In combination with the advanced technologies of SIBUR for the production of nitrile butadiene rubber, this will make it possible, within the framework of a long-term and fruitful cooperation between our companies, to create a modern competitive production in China, strengthening SIBUR's presence in the Asian market, "the press service of SIBUR said. ".
The plant will be built in the Shanghai Chemical Park 50 km from Shanghai, SIBUR will receive 75% in the joint venture.
Last year, SIBUR and Sinopec established a joint venture for the production of rubber on the basis of the Krasnoyarsk Synthetic Rubber Plant (KZSK). Sinopec's share in the joint venture is 25% plus one share. Most of the products are supplied to China.
BNK is a special purpose rubber, it is used for the manufacture of rubber products with high oil and petrol resistance, frost resistance, increased strength, increased resistance to aggressive media, wear resistance, aging resistance.
Products based on BNK are used in the manufacture of automobiles, aircraft, agricultural, drilling, coal, textile and printing equipment, adhesives, impregnations, linoleum coatings, cables, artificial leather, footwear and other products.