SHANGHAI--(BUSINESS WIRE)--INVISTA�s technology and licensing group, INVISTA Performance Technologies (IPT), and China Petrochemical International Co., Ltd. (�Sinopec Yizheng�) have reached an agreement for licensing of INVISTA�s industry leading PTA P8++ technology for Sinopec Yizheng�s third PTA line. This plant will be installed in Jiangsu province, China, with an annual name-plate capacity of 3 million tonnes.
Sinopec Yizheng previously utilised IPT�s P6 PTA technology for its 450,000 te/annum second PTA line. Sinopec Yizheng and INVISTA are pleased to once more leverage this technology to create long-term value for both parties.
This is a further confirmation of INVISTA�s strategy of relentlessly improving its PTA technology offering, through a combination of increased scale, reduced capital and variable cost per tonne of PTA, and greater sustainability.
During the recent project kick-off meeting, Mr. Guo Xiaojun, Sinopec Yizheng�s General Manager, expressed his trust in the INVISTA PTA technology and extended his gratitude towards the INVISTA project team. Mr. Guo said, �These 3 million te/annum PTA plants is a major project for SINOPEC during the 14th five-year plan period and a critical project for Sinopec Yizheng as well. I look forward to the cooperation between the two parties. To ensure the success of the project, we will execute the project in an effective manner by setting the goal as �excellent quality, fast schedule and profitable investment�.�
Adam Sackett, IPT vice president of PTA, commented, �Following the experience of working directly with the Sinopec Yizheng team on the second PTA line in 2003, I am excited by this new chapter in the partnership between our organizations. The manufacturing capability of Sinopec Yizheng combined with INVISTA�s industry leading PTA technology is a great fit, which should meet the ambitious project goals set by Mr. Guo.�
INVISTA�s industry-leading PTA technology, including its latest version of P8 technology, is available as a license package from IPT. For more information, please visit the IPT website at www.ipt.invista.com.
From the fibers in your carpet to the plastic in your automobiles, INVISTA�s commitment to continuous improvement has led its employees to develop some of the most durable, versatile polymers and fibers in the world. A subsidiary of Koch Industries since 2004, INVISTA brings to market the proprietary ingredients for nylon 6,6 and recognized brands including STAINMASTER�, CORDURA� and ANTRON�. INVISTA also offers specialty chemical intermediates and process technologies. See the bigger picture at INVISTA.com.
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