Solvay in new partnership to launch industrial operations
Soligran will produce PVC compounds for regional needs
Solvay announces today that it has signed an agreement with Nikos, a private Russian industrial group, to create Soligran, a polyvinyl chloride (PVC) compounds joint venture in Russia. The new company, of which both partners will hold 50%, is scheduled to be operational from the autumn of 2003, pending approval of the Russian authorities. It will mark the return of Solvay's industrial activities in Russia after 85 years.
With the support of technology transferred from Solvay, Soligran will operate in two plants to serve the large regional needs. The plants are located in Tver, which lies 170 km north of Moscow, and in Volgograd, where Nikos is already operating integrated vinyl chloride monomer (VCM) and PVC production units. Soligran is expected to set up a total annual production capacity of more than 40.000 tons of PVC compounds within the next two years.
Solvay and Nikos are creating Soligran in the framework of a rapidly expanding market for PVC compounds in Russia. Producing locally, the joint venture will be able to supply fast-growing local processors with a prime-rate product at competitive prices, which will enable them to manufacture and to sell superior quality goods to the cabling and building industries, among others.
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