A new synthetic rubber in Armenia
Rosneft, Oil Techno and Pirelli have signed a Memorandum of Understanding with regard to joint research and development activities in the field of the synthetic rubber Styrene-Butadiene Rubber (SBR), in Armenia. An eco-friendly material, SBR is used in the production of “Green tyres”, contributing to improved fuel efficiency and grip in both wet and dry conditions. Under the terms of the memorandum, Rosneft will be the lead investor in SBR operations in Armenia and Oil Techno the local partner. For its part, Pirelli will cooperate with Rosneft in research and development activities to develop SBR and is interested in entering into a long-term supply agreement to purchase the SBR produced. The head of Pirelli Russia, Aimone di Savoia said: “This MOU to develop a new source of synthetic rubber is another sign of our commitment to and belief in Russia and the Russian market. It is also the result of our growing ties with Rosneft, one of our key partners in the region.” Igor Sechin, Rosneft President and Chairman of the Management Board, stated: “The realization of the project will promote the revitalization of the rubber industry in Armenia and will help strengthen Armenia's economy and industrial capabilities to compete in the world market. Moreover this memorandum is an example of strengthening relationships between Armenia and Russia following the trade agreement ratification”.