SHANGHAI--(BUSINESS WIRE)--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.
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.”
INVISTA’s latest industry-leading PTA technology is available as a license package from INVISTA Performance Technologies. For more information, visit www.ipt.INVISTA.com.
About Jiaxing/Tongkun
Jiaxing Petrochemical Co., Ltd. is located at Chemical New Material Zone, Zhapu Town, the harbor side of Jiaxing City, Zhejiang Province.It is a wholly-owned PTA production site of Tongkun Group Co., Ltd. which is one of the top 500 enterprises in China. Jiaxing Petrochemical Co., Ltd. occupies an area of 670 acres, employs about 500 people. The launch of the second line will make Tongkun Group Co., Ltd.’s upstream and downstream industry chain more effective, substantially increase the Group’s risk resistance capacity, production scale and market competitiveness.
About INVISTA
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, car parts and countless other everyday products. Headquartered in the United States, INVISTA operates in more than 20 countries and has about 10,000 employees. For more information, visit www.INVISTA.com, Facebook.com/INVISTAglobal and Twitter.com/INVISTA.
