ibusinesslines.com
ibusinesslines.com December 16, 2017


Seyfeddin Roustamov: "One of Our Key Objectives Is to Become No 1 in the European Synthetic Resins Market"

18 September 2017, 03:44 | Jodi Jackson

Seyfeddin Roustamov: "One of Our Key Objectives Is to Become No 1 in the European Synthetic Resins Market"

Seyfeddin Roustamov:

Today Metafrax is a group of companies with the productions placed in Russia (Perm region, Moscow region) and Europe (Krems, Austria). The Metafrax Company is the largest producer of methanol, formaldehyde and synthetic resins in Russia and Europe. The majority shareholder of PJSC Metafrax is the Russian company MetaHolding, managed by Seyfeddin Roustamov. In the interview, the major shareholder of Metafrax Group, Seyfeddin Roustamov told about the development strategies until 2030, short-term plans and features of market environment.

Mr Roustamov, Metafrax Group has announced start of ammonia, urea and melamine production projects in Russia worth EUR 700 million. What’s the progress status of the project? Can adverse market conditions hamper implementation of the project?

In 2016, the market conditions could not hamper start of the company’s project. development strategy of Metafrax Group until 2030 includes construction of ammonia, urea and melamine production facilities in Gubakha, Perm region. One of our key objectives is to become No 1 in the European synthetic resins market. Metafrax cannot compete with the leaders of the methanol market, since there are manufacturers producing 7 million tons of methanol per year. Therefore, we cannot influence global prices. In the meantime we remain the largest methanol manufacturer in Russia and Europe and we have adopted strategy till 2030 with constant upgrades and construction.

How exactly does ammonia, urea and melamine production facility fit into the development strategies of the company?

Considering the process of consolidation in the methanol market, it was agreed that Metafrax should focus on derivatives, mainly on production of synthetic resins. Since Soviet era there were neither high quality resins, nor production technologies in the Russian market. For this reason in 2004 Metafrax established joint venture for synthetic resins production together with Dynea Chemical Company (Finland). Subsequently, several manufacturing sites were purchased in Austria and Russia. Today Metadynea is the largest synthetic resins production company in Europe. 

You mentioned European market. Can you tell us, if your company is present in the US market, what kind of plans do you have in this country?

Our presence at this stage on the US market is quite limited, we supply one of methanol derivatives—hexamine. In the meantime we constantly look at distribution opportunities and build contacts with a number of US consumers.




Other News

Trending Now

Davis Cup: India, Canada level on first day
This defeat would rankle Bhambri for sometime as Shapovalov had started feeling the heat following the Indian's perseverance. Before 2012, the Canadians had only participated in the highest echelon of Davis Cup twice, in 1991 and 1992.

Jose to become hurricane, rip currents threaten U.S. coast
Jose, formerly a Category 3 hurricane, is expected to produce rip currents and high-surf along portions of the USA east coast. Forecasters said the depression is expected to strengthen and could become Tropical Storm Lee later tonight or on Friday.

Pirate Bay mines cryptocurrency using visitor CPUs
The mining is now active on the search results page and the category listings but not on the homepage or individual torrent pages. The browser mining service, provided by Coinhive , is a JavaScript based application which can be integrated into a website.

Talinda Bennington shares video of late husband Chester
Talinda previously shared this smiling photo of Chester taken shortly before he took his own life . He then states: "I want to challenge you to do the same - to help yourself, not hurt yourself".

Google unveils Tez, a secure mobile payment system for India
So for example, the next time you're eating at Dominos or traveling through RedBus, you can make digital payment using Tez . The Tez app comes with Tez Shield to protect users by detecting fraud, preventing hacking and verifies the users identity.

Mamata Banerjee irked with Calcutta HC's comparison between Bengal & Maharashtra
Banerjee said, "This is illegal and such processions have not been Bengal's tradition and we will not allow it to take place". The West Bengal chief minister responded, saying the Bharatiya Janata Party was intentionally spreading misinformation.

Trump, South Korean Leader Vow to Increase Pressure on North Korea
McMaster said on ABC's "This Week" that Trump was determined to contain the threat posed by North Korea . US Ambassador to the United Nations Nikki Haley said she would happily step aside for James Mattis.