SHANGHAI--(BUSINESS WIRE)--INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Jiangsu Honggang Petrochemical Co., Ltd. (Honggang) have reached agreement for the licensing of INVISTA’s latest purified terephthalic acid (PTA) process technology. This is the first time that INVISTA and Honggang would be collaborating to build state-of-the-art PTA assets; a further recognition by the PTA industry of the many technology and schedule advantages which INVISTA delivers for its customers.
Honggang will utilize INVISTA’s P8 PTA technology at a scale of 2.4 million metric tonnes per year. Since 2012 INVISTA has licensed nearly 21 million tonnes of PTA capacity, representing almost two-thirds of the license capacity awarded during this period. Of this capacity, 70% would be based upon INVISTA’s industry-leading P8 PTA technology, designed to deliver long-term value for our many new and returning customers.
A kick-off meeting was successfully held in the week of Oct. 8, 2018. The targeted project start-up date would be in Q4, 2020.
INVISTA’s latest industry-leading PTA technology is available as a licence package from INVISTA Performance Technologies. For more information, please visit the INVISTA Performance Technologies Web site at www.ipt.invista.com.
With leading brands including LYCRA®, COOLMAX®, CORDURA®, STAINMASTER® and ANTRON®, INVISTA is one of the world’s largest integrated producers of chemical intermediates, polymers and fibers. The company’s advantaged technologies for nylon, spandex and polyester are used to produce clothing, carpet, air bags and countless other everyday products. A wholly owned subsidiary of Koch Industries and headquartered in the United States, INVISTA has more than 50 locations around the world. For more information, visit INVISTA.com, Facebook.com/INVISTAglobal and Twitter.com/INVISTA.
About Jiangsu Honggang Petrochemical Co., Ltd.
Jiangsu Honggang Petrochemical Co., Ltd., a subsidiary of Shenghong Group, is mainly responsible for the construction and operation of the purified terephthalic acid (PTA) project. Shenghong Group is one of the main producers of filament in the world.