The companies SIBUR and NOVATEK have concluded the deal for the acquisition of 100% share capital in OJSC NOVATEK-Polymer.

A 32% share in the authorized capital of the enterprise was allocated at the conclusion of the contract on September 2, 2010. The remaining share of 68% was transferred after receiving approval for the deal from the Federal Antimonopoly Service of Russia.

OJSC NOVATEK-Polymer is a subsidiary of JSC NOVATEK. It produces more than a dozen brands of insulating tapes and films based on polyethylene and polypropylene with a total volume of over 30,000 tons per year. Among these are polymer tapes and wrappers, heat-shrinkage belts, cuffs to protect pipe welds, polyethylene pipes and fittings. The company is the largest manufacturer in Russia and the CIS of insulating corrosion-resistant materials for the insulation of underground transmission gas and oil product pipelines.