INVISTA and CTCI sign strategic cooperation framework agreement
INVISTA and CTCI are pleased to announce that they have entered into an agreement for strategic cooperation. As part of the agreement CTCI will be nominated as INVISTA’s preferred contractor to provide engineering design services to licensees of INVISTA’s PTA technology. The Parties have agreed to collaborate closely on the pursuit of PTA licensing opportunities and making further improvements to the PTA technology offering. This formal agreement builds upon the extensive collaboration between INVISTA and CTCI spanning over 20 years.
INVISTA is a leading licensor of process technologies, including the licensing of its proprietary purified terephthalic acid (PTA) technology, holding a majority share of the PTA technology licensing market. INVISTA’s latest PTA technology offering, ‘P8’, delivers industry leading variable cost performance through milder reactor conditions, improved energy integration and recovery. The process is a net exporter of electricity with a reduced environmental footprint as a result of low energy and water usage combined with reduced waste generation.
CTCI, Taiwan’s leading Engineering, Procurement, Construction (EPC) company has a global presence focused on Engineering design, Procurement, Fabrication, Construction, Project management, Pre-commissioning and commissioning. CTCI has vast experience in the engineering of PTA Plants, having completed multiple PTA projects (equivalent to ~35 million annual tonnes of TA capacity) worldwide, including world class PTA projects using INVISTA’s PTA technology up to 2.2 million tonne plant scale. CTCI is currently the designated engineering contractor on the first P8 PTA project in China.
During a recent visit to INVISTA’s Wilton offices, Mr. M.H. Wang, deputy CEO and Group Engineering Business EVP of CTCI Corporation, commented, “The successful implementation of INVISTA’s P7 PTA platform is attributed to the joint efforts of both the INVISTA & the CTCI teams. I look forward to a successful start-up of the first P8 PTA project and greater collaboration between both parties.”
Mr. Mike Pickens, president, INVISTA Performance Technologies, commented, “Over the past several years, we have been working closely with CTCI to execute major capital investments in PTA. The signature of this strategic cooperation framework agreement is another milestone in our evolving relationship. I look forward to a strong collaboration of both parties in creating long term value in the PTA industry worldwide.”
INVISTA’s latest PTA, polyester, BDO & THF/PTMEG technologies are available as a license package from INVISTA Performance Technologies. For more information, please visit www.ipt.INVISTA.com.
CTCI (TWSE: 9933, TPEX: 5209) is a global engineering services provider that offers a comprehensive range of services, products, and solutions. Since its founding in 1979, CTCI has strived to deliver reliable engineering, procurement, fabrication, construction, commissioning and project management services. Headquartered in Taipei, Taiwan, CTCI serves the hydrocarbon, power, environmental, transportation and industrial markets. The company is Taiwan's leading EPC services provider, with 7,400 employees in more than forty local offices worldwide, and is a member of the Dow Jones SustainabilityTM Emerging Markets Index. For more information, visit www.ctci.com.
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