Russian PMMA Maker to Restart Production
21 Jul 2009 • by Natalie Aster
Russian PMMA (polymethyl methacrylate) maker Dzerzhinsk Orgsteklo (Dos) will reportedly restart production in October with new financial backing, after it was forced to halt manufacturing in early April.
The acrylic sheet producer, based in the industrial city of Dzerzhinsk, has attracted new state and private enterprise funding, including finance from several major customers towards the more than $12m (€8.6m) it requires, reported the Marchmont Capital investment news service.
Dos, located in the Nizhny Novgorod region, is said to be receiving a loan from the big state-run Russian bank Sberbank, with other funding coming from regional authorities. A further $3m (€2.1m) is set to come from a customer, aircraft maker Irkut, part of Russian group United Aircraft Corporation, and some $3.5m (€2.5m) from the Dzerzhinsk-based chemicals group Korund, the news service quoted Nizhny Novgorod governor Valery Shantsev as revealing.
In June last year, Dos was obliged to shut down its 22,500 tpa methyl methacrylate (MMA) plant in the face of soaring chemical raw material prices, and since September 2008 it has imported MMA used for PMMA production.
Source: plasteurope.com
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