Sibur to modernise Yaroslavl Tyre and buy majority stake

Moscow–Local press reports indicate that the Russian oil giant SIBUR intends to increase its minority stake in Yaroslavl tyre factory to 75 percent ownership.

Dmitry Konov, Sibur’s Vice President for corporate policies and strategy is quoted as saying Sibur wants to modernise and expand the Yarosloavl and other tyre factories, but cannot commit to capital expenditure, unless it owns a majority in the enterprise. Konov added that Sibur may also seek external investment in its tyre factories.

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