Huntsman licenses PO/MTBE technology to China’s Yantai Wanhua Polyurethanes
US chemicals producer Huntsman said Wednesday that it signed a license agreement with Chinese chemicals manufacturer Yantai Wanhua Polyurethanes for the production of propylene oxide (PO) and methyl tertiary butyl ether (MTBE) - a co-product of PO.
The financial terms of the arrangement were not disclosed.
Yantai Wanhua, a leading Asian polyurethanes producer, plans to leverage the license to build a worldscale PO/ MTBE plant at its facility in Yantai, Shandong province, with construction expected to commence later this year and beneficial production due in late 2013, officials said.
Huntsman's polyurethanes division has worldscale production facilities in the US, the Netherlands and China, including a 240/750 ktpa PO/ MTBE plant in Port Neches, Texas and describes itself as a global leader in PO technology.
Peter Huntsman, CEO of Huntsman, said: "Huntsman is pleased with the negotiations and the relationship that has been built between our company and Yantai Wanhua - one of China's finest manufacturing companies.
“We anticipate this relationship will extend into other business opportunities that will be beneficial for both companies,” Huntsman added.
Ding Jiansheng, chairman of Yantai Wanhua Polyurethanes, said: "This co-operation with Huntsman is a win-win solution for both parties and for the polyurethane industry. Huntsman is one of the leading PO technology holders and definitely the right partner to work with to realize our vision: to be a first-class, green chemical producer.
“With China's huge chemical market potential and Wanhua's local expertise, the PO/MTBE license will foster a true success in our Wanhua Yantai portside integrated chemical complex,” he said.
Comments