CORRECTING and REPLACING Hengli Petrochemical announces successful performance demonstration on its 4th PTA line utilising INVISTA’s P8 PTA Technology

SHANGHAI--(BUSINESS WIRE)--Last paragraph, second sentence of release should read: In 2019, Hengli’s total revenue was 556.7 billion RMB, ranking No. 181 in the Fortune Global 500 list. (instead of In 2018, Hengli’s total revenue was 371.7 billion RMB, ranking No. 181 in the Fortune Global 500 list.).

The corrected release reads:

HENGLI PETROCHEMICAL ANNOUNCES SUCCESSFUL PERFORMANCE DEMONSTRATION ON ITS 4^TH PTA LINE UTILISING INVISTA’S P8 PTA TECHNOLOGY

INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Hengli Petrochemical (Dalian) Co., Ltd (Hengli) are pleased to announce that Hengli’s 4^th PTA line utilising INVISTA’s P8 Process Technology has met all performance guarantees.

Hengli’s 4^th PTA line of 2.5 million tonnes per annum capacity, located in Changxing Island, Dalian City, Liaoning Province, utilising INVISTA’s P8 PTA technology with industry leading variable cost, capital productivity and environmental performance, came online on January 8^th, 2020. This PTA line also produces benzoic acid as co-product, utilising INVISTA’s proprietary R²R technology.

Hengli’s 4^th PTA line was executed in record time of 22 months from engineering kick-off meeting to start-up. Both parties demonstrated extraordinary commitment under the difficult circumstances. INVISTA’s commissioning team provided Hengli with onsite and remote technical support to optimise the plant performance in quick time.

Adam Sackett, IPT vice president PTA, commented, “This is the latest in a series of successful collaborations between the teams of both companies and I congratulate Hengli on achieving this significant milestone on Line 4. Whilst Hengli Line 4 has already demonstrated industry leading variable cost performance, we will continue to support Hengli to further optimise the plant.”

Chen Xinhua, vice chairman of Hengli, expressed his trust in INVISTA’s PTA technology, saying, “We are honoured to choose INVISTA’s world class P8 PTA technology. We appreciate INVISTA’s excellent support throughout the whole project lifecycle. We look forward to ongoing cooperation with INVISTA in the future.”

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.

About INVISTA:

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.

About Hengli Group:

Hengli Group is an international company that owns a diversity of business: petrochemical, advanced polyester materials, textiles, trading, finance and thermal power. In 2019, Hengli’s total revenue was 556.7 billion RMB, ranking No. 181 in the Fortune Global 500 list. Hengli operates the largest PTA plant in the world combined with the biggest performance fibre textile production base.