Renova Orgsintez acquired the working interest in Khimprom (Cheboksary) which is one of the leading chemical entities in Russia, the company informed.

In spring 2007 the parties signed up an agreement on the long term cooperation stipulating the expansion of the production and assortment as well as on the preemptive right of the buyback of the working interest in the entity.

The value of the transaction is undisclosed.
Khimprom is working in the sector of the chemicals production. Its assortment includes 200 products. It is leader in the production iton of ethyl silicate, complexons.

The consumers involve the entities in the chemical, oil/gas production and pharmaceutical sectors.

Renova Orgsintez has the shares in the chemical entities - Sayanskkhimplast, Khimprom, Promzintez, Petrochemistry.

The main target is the consolidatation of the chemical assets and growth of the competitiveness.

"AK&M", 27.08.2007 10:43