ibusinesslines.com March 20, 2018

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.

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