BIAXPLEN becomes part of SIBUR's Basic Polymers Division

BIAXPLEN, SIBUR's subsidiary and Russia's largest producer of biaxially-oriented polypropylene (BOPP) film, has been integrated into the Company's Basic Polymers Division.

The facilities operated by the Division produce polypropylene, the main feedstock for BOPP film. The integration will ensure leaner management, contribute to the exploration of new markets, and refine the product mix.

As part of the process, the employees of BIAXPLEN's Moscow branch were transferred to the Basic Polymers Division. Facilities in Novokuybyshevsk, Balakhna, Zheleznodorozhny, and Kursk, as well as BIAXPLEN-T (Tomsk) will remain BIAXPLEN's branches.

The BIAXPLEN brand and trademarks will not be changed.

Sergey Komyshan has been appointed BIAXPLEN's CEO; at the same time, he will continue to serve as Managing Director, SIBUR's Basic Polymers Division. Anton Matvienko, BIAXPLEN's former CEO, has been appointed advisor to SIBUR's CEO.

Relevant corporate procedures are scheduled for completion by the end of October 2015.