Press Service Report of the Group of Companies «Titan»

The joint venture of «Gazprom Neft» and SIBUR — «Sibgazpolymer» JSC entered into an agreement with the Group of Companies «Titan» to purchase a 50% share in equity capital of «Poliom», Ltd. Therefore «Gazprom Neft» and SIBUR consolidated 100% of equity capital of Omsk Polypropylene Production Plant — «Poliom», Ltd.

After completion of all corporate procedures and registration acts, «Sibgazpolymer» JSC became the sole member of «Poliom», Ltd. «Gazprom Neft» and SIBUR will perform joint operational management of «Poliom», Ltd.

Polypropylene production plant was built by the Group of Companies «Titan» and commissioned in 2012. The joint venture with «Gazprom Neft» (25%), SIBUR (25%) and the Group of Companies «Titan» (50%) was incorporated in 2014 on the basis of «Poliom». The production capacity of the enterprise is 210 tons of high-tech products per annum, product range includes about 100 trademarks of polypropylene. Main raw material for production — propane-propylene fraction — is supplied from Omsk Oil Refinery of «Gazprom Neft». Distribution of end products in Russia and market of CIS countries is provided by SIBUR. The enterprise is certified in compliance with international standards. Best inventions and technologies ensuring zero waste production cycle are used at «Poliom».

«Expertise of the Group of Companies «Titan» in the field of construction of complex industrial facilities, level of technology solutions and facility management made Omsk Polypropilene Production Plant attractive for the largest Russian Companies — «Gazprom Neft» and SIBUR. «Poliom» has reliable industrial process control systems enabling to manufacture the products complying with all requirements of world leading manufacturers of products from polymers. It should be noted that Titan will continue development of its own industrial facilities including creation of complex of production facilities aimed at increase of depth of hydrocarbons processing with manufacturing of wide range of import substituting products of organic synthesis. «Gazprom Neft» and SIBUR remain strategic partners of the company both in existing and in new projects», noted Mikhail Sutyaginsky, Chairman of the Board of Directors of the Group of Companies «Titan».

«SIBUR actively develops polymers production business taking into account the fact that demand for polymers in Russia and in the world demonstrates outstripping growth rate as compared to growth of world economy. Due to its superior properties synthetic materials continue, on the one hand, to expel traditional materials and, on the other hand, to help the society discover new possibilities in transport, medicine, robotics and other fields. Purchase of a larger share in «Poliom», Ltd will make it possible for us to focus on its further development with concurrent sales of the enterprise's products. SIBUR has unique expertise in expansion of brand assortment of polymers and satisfaction of the needs of processors in various fields, offering the market optimal product solutions. Besides, I am very grateful to the Group of Companies «Titan» for many years of successful cooperation. We continue cooperation with Titan on other lines of supplies and joint business», noted Board Member, Executive Director of SIBUR Sergei Komyshan.

«Increase of ownership share in «Poliom» is an important step within the framework of implementation of long-term strategy of «Gazprom Neft», one of key direction of which is development of petrochemistry. Integration of assets in the field of oil refinery and petrochemistry will enable to increase efficiency of use of raw materials from our oil refineries for manufacturing of products with high added value, and strengthening of technological partnership with SIBUR will provide competitive advantages of products in Rusian and international market», noted Levan Kadagidze, Commercial Director of «Gazrpom Neft».

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