W.R. Grace & Co., Columbia, Md., and Russia's Tyumen Oil Co. said Wednesday that they've agreed to market hydroprocessing catalysts in Eastern Europe and the former Soviet Union.
The catalysts will be produced at Tyumen Oil's Ryazan refinery, 120 miles southeast of Moscow. Grace�a leading supplier of refining catalysts�will provide its expertise to market hydroprocessing catalysts in Eastern Europe and the former Soviet Union as well as its technology to produce hydroprocessing catalysts.
"This agreement will allow Tyumen Oil to modernize its manufacturing operations using the latest technology," Tyumen Oil Pres. and CEO Simon Kukes said.
Hydroprocessing catalysts comprise about 40% of the $2 billion global refining catalyst market. Tyumen Oil began producing catalysts in April 1999. The company said it expects continued growth in catalyst sales through this alliance.
The Grace agreement is the latest in a series of Tyumen Oil's relationships with Western companies. Tyumen Oil recently announced an expansion of its relationship with Texaco Inc. to include commodity risk management.
Tyumen and Texaco also jointly market Texaco-branded imported lubricants as well as Tyumen and Texaco-branded lubricants produced and blended at the Ryazan refinery.
