At the auction, TATNEFT bought from the Trust Bank the largest producer of polymers (PET containers) in Russia and Eastern Europe - the Ecopet group of companies. The deal amounted to RUB 6.45 billion.
A single lot put up for auction includes 100% of shares and shares of companies belonging to the Ecopet group of companies - an industrial complex, a trading house (TD Ecopolymers) and the Baltic Industrial Park in the Kaliningrad region (territory of the industrial complex) with a total area of 132 ha, as well as the rights of claim against these companies.
The Ecopet group of companies is the largest enterprise in Russia and Eastern Europe for the production of granular polyethylene terephthalate (PET). The Ecopet plant was commissioned in 2011 (the design capacity is 220 thousand tons of PET per year) and produces products intended for the manufacture of bottles, as well as other types of packaging for food and non-food use under the Ekopet trademark. Revenue for 2020 amounted to 14.2 billion rubles.
This enterprise was received by MDM Bank for debts, which then merged with B&N Bank, which at that time belonged to Mikhail Gutseriev's nephew Mikail Shishkhanov. Binbank itself, during the reorganization in 2018, transferred these assets to the Trust.
“The buyer of the Ecopet group of companies has actually become the owner of the largest enterprise in Russia and Europe - a manufacturer of PET packaging, which brings a stable income,” said Andrey Stepanenko, General Director of the Auction House of the Russian Federation. During the auction, the cost of the lot increased by 72% - the initial price was 3.75 billion rubles. In addition to Tatneft, there were three more applicants, the press service of the Russian Auction House reports.
The acquisition of Ecopet will allow the most efficient implementation of the company's plans for the development of the petrochemical business and will contribute to the achievement of the TATNEFT Group's goals to reduce greenhouse gas emissions along the entire value chain, according to its press service. “We are confident that this asset will allow Tatneft to fill the missing link in the chain from the producer of raw materials to the end consumer, as well as to use this site for the further development of petrochemical production,” added Azat Bikmurzin, director of the Tatneft oil and gas chemical complex (his words are quoted in company message).
On May 25, the head of RT-Invest Andrey Shipelov told RBC about plans to build a plant for the production of PET granules with a capacity of 120 thousand tons per year for 6 billion rubles in the Moscow region, citing the demand for recycled plastic from the main packaging manufacturers, which set a goal to use 50% of recycled PET in its products by 2025.
By the end of May 2021, the Ministry of Energy, the Ministry of Agriculture and the Ministry of Industry and Trade were expected to offer alternatives to stabilize the cost of primary polymers produced by petrochemical companies. The rise in prices for this raw material since the beginning of the year in some cases amounted to 80%. Producers of meat, milk, bread, drinks and butter have already warned that this could affect the cost of food.