Austrian trading company Citco Waren-Handelsgesellschaft (Vienna) is rebranding to reflect the name of its owner, Russian petrochemicals giant Sibur (Moscow; www.sibur.ru). Going forward, the company will do business as Sibur International (www.sibur-int.com).

Its current management has been replaced with managers from the parent company. Mikhail Mikhailov, up to now vice president for corporate governance and development at Sibur, has taken over as managing director from Citco’s Victor Viehweg. New executive director in Austria is Ilya Gustchin, formerly Sibur’s deputy manager for economics and finance in the plastics and organic synthesis division.

Sibur acquired 100% of Citco, a trader of liquefied petroleum gas (LPG) and other petrochemical and plastics products such as naphtha, ethane, PE, PP and PVC, in 2009 to expand its European marketing opportunities. It maintains storage terminals in Black Sea and Baltic ports. Sibur said the changes will facilitate the company’s integration into the Sibur system. It added that all contractual obligations will be maintained.