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Synthos chemicals buys polybutadiene production know-how, will launch production in Brazil in 2017

TAG'S: SYNTHOS, Chemicals Industry

Listed chemicals group Synthos acquired a license and know-how for polybutadiene rubber production from Michelin and plans to open a plant in Brazil in 2017 that will enable the group to expand its annual production capacity to some 80k tons, Synthos said in a market filing.


- The acquisition of Michelin`s license and know-how will lead to expansion of production capacity of the capital group in the future as far as as polybutadiene rubber is concerned to a nominal volume of around 80,000 tons a year,  the filing read.


The deal was signed on December 6, 2013, but its announcement was delayed to protect the company`s interests, the filing showed.


The deal was signed for a period of 20 years.


At the same time, Synthos signed deals to supply Michelin`s Brazilian plants with polybutadiene rubber for the duration of the acquired license validity, estimated at PLN 1.15 bln, as well as Pirelli`s Brazilian plants for ten years, estimated at PLN 1.55 bln, the firm said in separate statements.


The above agreements are hinged on securing butadiene supplies from Brazil-based Braskem, based on a conditional deal estimated at up to PLN 4.5 bln, another filing showed. This deal, in turn, is hinged on Braskem securing long-term crude oil supplies, a condition that is yet to be fulfilled, Synthos said.


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