Under the terms of the deal, Invista will supply its proprietary nylon 6,6 polymerization process for a facility located in the Economy & Technology Developing Zone in Yantai City, Shandong province. Invista said the line is the first since 2015 to license the technology.
“As with China Resources and all local partners, we look forward to working closely together for success on this new project and to identify additional opportunities for nylon 6,6 downstream applications, enabling strong growth as we contribute to the upgrading of the nylon 6,6 industry in China,” said Pete Brown, nylon polymer executive vice president, global intermediates, Invista.
Separately, Invista has taken over Flint Hills Resources’ propylene business with effect from Jan. 1. The transaction includes the plants in Houston and Longview, Texas. Ownership of the pipelines that supply these facilities will also transfer to Invista, but they will continue to be operated by Flint Hills Resources under contract.
“We’re excited for the opportunities that will be made possible by this integration of two of Koch Industries’ chemicals businesses,” said Invista chairman and CEO Jeff Gentry. “Flint Hills Resources’ propylene business complements Invista’s portfolio and will help us accelerate our vision of building a leading polymers and advanced materials company.”
Author: Dede Williams, Freelance Journalist
