Alexander Petrov, a member of the management board and Managing Director of SIBUR, and Sergey Chudinov, CEO of Bumatika LLC, have signed a contract on supplies of raw materials for the project of making recycled PET pellets at POLIEF, a plant in Blagoveshchensk (the Republic of Bashkortostan), SIBUR informed.
About 34 thousand tonnes of recycled raw materials are expected to be used for "green" PET pellets annually. PET flakes made from recycled food packaging will be used in the primary polymers synthesis process. Bumatika will ensure the required capacity utilization at POLIEF facilities (currently under construction) with raw materials collected in Perm krai and the neighboring regions.
JSC POLIEF (Blagoveshchensk, Republic of Bashkortostan) is the largest producer of terephthalic acid and polyethylene terephthalate (PET) in Russia.
Bumatika LLC has been active in the waste management sector since 2002.
PJSC SIBUR Holding (tax number: 7727547261) is the largest Russian manufacturer of petrochemical goods. SIBUR's controlling shareholder is Leonid Mikhelson.
IFRS net loss of SIBUR for the first 9 months of 2020 was RUB 24.6 billion. Unadjusted for FX effects, adjusted net profit for the period was RUB 71.9 billion. Revenue decreased by 6.6% to RUB 369.3 billion, while EBITDA dropped by 3.3% to RUB 122 billion. As of September 30, 2020, the total amount of the company's debt liabilities amounted to RUB 491.2 billion growing by 29.4% against December 31, 2019.
