The joint venture will be incorporated with 51 % held by JSR and 49 % by MOL. One of the most important raw materials of the S-SBR (solution polymerization styrene-butadiene rubber) will be manufactured by MOL group, TVK butadiene plant starting in Tiszaújváros as well in 2015 with 130,000 tons/year capacity.

Located in Hungary, the joint venture has advantages for the synthetic rubber manufacturing: Some major tire manufacturers have already commenced their operations in the country. And there is regional access from Hungary to Western Europe‘s major tire manufacturers, as well as to Central-Eastern Europe, Russia, and Turkey, where the expansion of tire production is expected.

Sándor Fasimon, COO of MOL Hungary said: „Besides the fact that MOL‘s petrochemicals value chain will be expanded with this step we are also strengthening the Hungarian industry, since world leading technology will operate in the North region of Hungary.“

About MOL Group
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It has operations in over 40 countries and employs almost 28.000 people worldwide. MOL‘s exploration and production activities are supported by more than 75 years‘ experience in the hydrocarbon field. At the moment, there are production plants in 7 countries and exploration assets in 12 countries. The Group operates five refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia, Croatia and Italy. MOL Group also owns a network of over 1,700 filling stations across 11 countries in Central & South Eastern Europe.

(dw)

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