The Board has advanced market orientation as chief principle of corporate relations so as to enhance the effect of Gasprom capital investment in petrochemistry and build up the budding company's joint stock.
The Sibur developmental strategies include produce promotion and marketing in the raw material sector, petrochemistry and tire manufacture, alongside competition and production strategies. The latter bases on an investment program aimed to update and streamline Sibur production.
The strategies reflect principles of Sibur-Gasprom relations to take into due account Sibur finance, debt service opportunities and techniques, and funding the corporate investment program.
Sibur lump indebtedness for last year's start made 67.86 billion rubles (today's Central Bank rate is R28.01/$1). As the latest analyses show, to set up a new company on joint-stock patterns promises the most effective and least hazardous way to reschedule Sibur debts. A part of them-40.1 billion rubles-will be capitalized in the new company's stock to give a new lease of life to Sibur petrochemical business, step it up, and reduce guarantee risks and the danger of asset losses.
Gasprom is to hold the entire new stock. It intends to pass to the budding company all Sibur liquid assets.
Sibur will cede its business to the new company step by step. Debt capitalization and another company set up on its basis will provide the greatest possible opportunities to develop a vertically integrated structure able eventually to dominate Russian petrochemistry.
