OREANDA-NEWS. On 1 February 2008  was announced, that the documents related to the acqusition of Kurskkhimvolokno by KuibyshevAzot were signed.

The deal was concluded in line with the agreement between A.N. Mikhailov, the Governor of Kursk Region, and V.I. Gerasimenko, the General Director of KuibyshevAzot OJSC, aimed at an increase of the production volumes at one of the largest and oldest plants of Kursk.

The acquisition of this plant complies with the long-term strategic program of KuibyshevAzot, i.e. increase of caprolactam processing within Russia, and enables to avoid shortage of technical yarns and cord fabric caused by the closure of the Khimvolokno plant in Kemerovo.

In future the imports of caprolactam downstream products are expected to be reduced after build-up of capacities at Kurskkhimvolokno.

As agreed by the parties the price of the deal is not disclosed.