Russia's Federal Antimonopoly Service permitted Nizhnekamskneftekhim to acquire 100% of the shares in CJSC Polymatiz, the regulatory body informed.
Nizhnekamskneftekhim (tax number: 1651000010) is one of the largest petrochemical complexes of Eastern Europe. It produces a diverse range of goods comprising over 120 types of chemical and petrochemical substances.
The authorized capital of NKNH is RUB 1.83 billion, 1,611,256 thousand common shares (88.04% of the authorized capital) and 218,983.75 thousand preferred shares (11.96%) at par value of 1 ruble are issued.
Net profit (IFRS) of Nizhnekamskneftekhim Group for 9 months decreased by 5% to RUB 12.333 billion. Revenue rose by 6.3% to RUB 99.643 million, GP by 8.3% to RUB 27.861 billion. EBITDA decreased by 4.1% to RUB 18.403 billion. The company's net debt decreased by 67.3% to RUB 1.524 billion, debt/equity ratio improved from 9% to 3%.
Net profit (RAS) of OJSC Nizhnekamskneftekhim for 2011 (RAS) increased by 86.19% to RUB 14.413 billion from RUB 7.741 billion for 2010. Revenue grew by 29.97% to RUB 122.699 billion from RUB 94.407 billion, sales profit to RUB 20.076 billion from RUB 13.043 billion.
CJSC Polymatiz has been located in the Alabuga Special Economic Zone since April 2007. The enterprise produces and sales spunbond-meltblown-meltblown-spunbond (SMMS) nonwovens and construction membranes using raw materials supplied by Nizhnekamskneftekhim.