2009 Sales of $2b Anticipated for Joint Sibur-AV Company

The company to emerge from the deal between Sibur Holding and Amtel-Vredestein could generate sales of more than US$2 billion in 2009, a company executive has said. Sibur Russian Tyres CEO Vadim Gurinov has told the Kommersant business daily that he anticipated the company would post pre- interest, taxation, depreciation and amortisation earnings of $200 million in 2009.

Gurinov further commented that the unified company’s debt was likely to grow in the next few years before declining. “According to our model, (debt will increase) to $1.0 – 1.2 billion in 2009, no more than $850 million by 2011 and $600 million by 2012,” the general director was quoted as saying.