ERJ staff report (DS)
Moscow, Russia -- In announcing its annual results, Sibur revealed a sales increase at its Sibur Russian Tyres subsidiary. Sibur said sales of truck tyres increased to Rbl 13 385 million (Euro 362.5 million) from Rbl 10 588 million. Sales of car yres increased to Rbl 6279 million from Rbl 4928 million, while sales of other tyres, including aircraft and agricultural increased to Rbl 4113 million from Rbl 3473 million. In total, Sibur said tyre sales amounted to Rbl 23 777 million (Euro 644 million) compared with Rbl 18 989 million a year ago.
Sibur also recorded a profit of Rbl 77 million (Euro 2 million) from its 50 percent share in the SP Matador Omskshina tyre joint venture, up from Rbl 34 million a year ago. Sales revenues from the joint venture were recorded at Rbl 2188 million.
Sibur said it sold Rbl 2000 million-worth of rubber technical goods, up slightly from Rbl 1934 million a year ago. The company holds a 92 percent stake in Saransky technical rubber goods factory.
In a separate announcement, Sibur Russian Tyres confirmed it is expanding truck tyre production at its Yaroslavl plant. The company issued a news release (in the Russian language) saying it will add capacity for 650 000 units/year of truck tyres, adding to the existing 400 000 units/year. When the new capacity is on stream at the end of 2009, the company will make over 1 million units/year.
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Annual results statement from OAO Sibur
Press release from SRT (in Russian language) dated November 2007, but issued 22 January 2008.