BIAXPLEN has acquired a 50% stake in the European biaxially-oriented polypropylene (BOPP) film producer Manucor S.p.A.
BIAXPLEN and Manucor will share their best practices in terms of R&D, sales and marketing, production, and technical support. Joining efforts with Manucor’s sales team will result in new opportunities in the European markets for BIAXPLEN. In turn, SIBUR will engage PolyLab, its Skolkovo-based R&D centre, to develop new products. Together, the parties expect to create one of the largest BOPP film producers in Europe.
Marat Falyakhov, Executive Director at BIAXPLEN, commented: “We are happy to announce this transaction with Manucor, one of the leading European BOPP players with excellent relationships with the major end users and converters in Europe, consolidated and strengthened through the years due to the widely recognised quality of its products and its high level of service. This deal is an important milestone in our work on the international market. It will help us expand our European footprint and exchange best practices. We aim to make full use of the potential development opportunities we see in the industry while employing global expertise to deliver innovative products and high-quality service to our customers.”
Luigi Scagliotti, CEO at Manucor, added: “We are proud to establish this partnership with BIAXPLEN and SIBUR that will create strong synergies in terms of sales, supplies and know-how. BIAXPLEN is the leading Russian BOPP player and one of the main players in the international BOPP market, while SIBUR is among the most important manufacturers of PP granules in Europe. This transaction will allow Manucor and BIAXPLEN to expand and complete their product portfolio, extend geographic coverage and commercial presence, given the complementary location of the production sites, and expand and share R&D capabilities.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/27092019/biaxplen-sets-up-petrochemical-joint-venture-with-manucor/
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