#Yarn & Fiber
INVISTA signs strategic cooperation agreements with China Pingmei Shenma Group
INVISTA (China) Investment Co., Ltd. and China Pingmei Shenma Group, held a ceremony today to commemorate the signature of a suite of agreements that establish a strategic relationship creating multiple opportunities for synergies. Agreements were reached for the five-year purchase and sale of adiponitrile (ADN) and adipic acid (AA), and for the license of key technologies.
As part of the collaboration, INVISTA Textiles (U.K.) Limited will license two technologies to Pingmei Shenma: its nylon 6,6 polymerization technology for two new production lines and its world-leading nitrous oxide (N2O) abatement technology for Pingmei Shema’s adipic acid production. Once implemented, the abatement technology is expected to significantly reduce N2O emissions, which is aligned with China’s goals for carbon reduction. The potential for CO2-equivalent emissions reduction at Pingmei Shenma’s facility as a result of INVISTA’s control technology is an estimated 13 to 14 million metric tons per year. This highly efficient N2O abatement in adipic acid production is an important step in continuing to improve the environmental profile of nylon 6,6.
“Pingmei Shenma is our strategic partner, and we are looking forward to these commitments continuing to strengthen our decades-long collaboration,” said Kyle Redinger, chairman of INVISTA (China) Investment Co., Ltd. and vice president, INVISTA Nylon Intermediates Asia Pacific. “As a leader in the integrated, responsible development of the nylon 6,6 value chain, INVISTA is greatly encouraged by the upcoming emission reductions that will be made possible by their implementation of our emissions control technology for adipic acid production.”
Attending the ceremony were Kyle Redinger, Angela Dou, director of INVISTA Intermediates Asia, Du Bo, general manager of China Pingmei Shenma Group and Wang Liang, vice general manager of China Pingmei Shenma Group. Bill Greenfield, president, INVISTA Nylon, and other INVISTA business leaders also participated online. Both parties expressed their enthusiasm for the partnership.
Since 2004, INVISTA has been working together with Pingmei Shenma on the development of China’s nylon 6,6 industry. With these latest agreements, both organizations will continue to build on each other’s respective strong product technology expertise to achieve more breakthroughs.
Following the first successful completion of polymer licensing between Pingmei Shenma and INVISTA Textiles in 2015, and as part of these latest agreements, two new continuous polymerization lines at Pingmei Shenma will be equipped with INVISTA Textiles’ nylon 6,6 polymerization technology to facilitate increased capacity and product quality with excellent safety and environmental performance.
Bill Greenfield from INVISTA said, “As a global leading nylon 6,6 supplier deeply rooted in China, INVISTA is well-positioned to contribute its unique know-how and team up with industry leading partners like Pingmei Shenma to co-drive the implementation of innovative technologies to support and accelerate local industry growth. With our ADN plant in SCIP due for completion midyear, we look forward to charting new growth with Pingmei Shenma in our next milestones, to increase efficiency and capacity for nylon production and promote the upgrade of the local nylon 6,6 value chain.”
Du Bo from Pingmei Shenma said, “We see this agreement as an opportunity to build on our existing achievements with a focus on the supply of raw materials and technology licensing. We look forward to enhancing and expanding our relationship and areas of cooperation to promote high-quality development for both partners.”
