By YVONNE LEE
HONG KONG -- China Petroleum &
Chemical Corp., or Sinopec, said Wednesday it
has agreed to acquire a stake in Russia's Sibur rubber plant in
the Russian city of Krasnoyarsk.
Sinopec signed an agreement to acquire
25% plus one additional share in the rubber plant, it said in a
statement, without specifying the value of the deal.
The two firms are in talks to set up a
joint venture to produce nitrile as well as polyisoprene rubber
in Shanghai, it said.
Earlier this year, Sinopec and Sibur
signed an agreement to create a joint venture that will produce
nitrile rubber in Krasnoyarsk.
Dow Jones Newswires