Jiaxing Petrochemical C to license INVISTA’s P8 process technology for PTA line

27-Jul-15

Invista Performance Technologies (IPT) and Jiaxing Petrochemical Co., Ltd., a subsidiary of Tongkun Group Co., Ltd., have reached agreement for the licensing of INVISTA’s latest P8 process technology for Jiaxing’s second purified terephthalic acid (PTA) line. Jiaxing Petrochemical’s first PTA line, in operation since 2012, also utilizes INVISTA’s technology. “I look forward to cooperation between both sides to ensure successful project execution of the second PTA line.” Mr. Xu, president at Tongkun Group, expressed his trust in INVISTA’s PTA technology: “I look forward to cooperation between both sides to ensure successful project execution of the second PTA line.” Mike Pickens, IPT president, commented, “The signing of the second PTA line license agreement represents the latest milestone in our relationship with Jiaxing and Tongkun. We are very appreciative of the trust that Chairman Chen Shiliang and his team have placed in INVISTA, recognizing that selection of industry-leading technology is critical for a good return on investment.”