13 January 2010, Wednesday, 11:03

“Selena” sold shares of “POLYEF” to “VNESHTORGBANK”

author: Elvira Latypova

The share holding of the Bashkir JSC “POLYEF”, owned by the company “Selena” (32,5% of shares) is sold to “VNESHTORGBANK”. Referring to some open sources “VTB” is the main creditor of “POLYEF”: in 2006 the bank has provided the enterprise with the credit for the sum of 200 million USD till 2011.

JSC “POLYEF” is considered the only manufacturer of terephthalic acid in Russia. The capacity of its production is 230 thousand tons of terephthalic acid and 120 thousand tons of polyethyleneterephthalate annually. A half of the plant’s supply is delivered for the internal market.

Construction of the polyether complex started still in 80s last century. Republic of Bashkortostan invested to a new production more than seven billion rubles.