MOSCOW (MRC) -- Invista, a Koch company and affiliate of Flint Hills Resources, has recently acquired the Flint Hills Resources propylene business, as per Invista's press release.
This includes chemical facilities in Houston and Longview, Texas, as well as support employees. Ownership of the pipelines that supply these facilities also transferred to Invista, and they will continue to be operated by Flint Hills Resources under contract.
“This addition of the propylene business to INVISTA’s existing portfolio provides a strong chemical platform in which to grow,” said Jeff Gentry, Invista chairman and CEO. “We look forward to applying our combined knowledge and capabilities to accelerate future innovation and growth opportunities.”
As MRC reported earlier, in February, 2021, Stepan Company (Northfield, Illinois) acquired Invista’s aromatic polyols business, which has annual sales of about USD100 million.
We remind that in September, 2020, Invista Textiles (U.K.) Limited’s technology and licensing business, Invista Performance Technologies (IPT), and Jiangsu Jiatong Energy Co., Ltd, a subsidiary of Tongkun Group (Tongkun), reached agreement to license Invista’s latest P8 PTA technology for two PTA lines. These two lines will be installed in Rudong, Nantong City, Jiangsu province, China. Both lines deploy INVISTA’s largest twin stream design respectively, utilising INVISTA’s latest P8++ PTA technology.
PTA is the main feedstock for the production of polyethylene terephthalate (PET).
According to MRC's ScanPlast report, the estimated PET consumption in Russia remained steady year on year in December 2021. December estimate PET consumption was 67,880 tonnes (67,710 tonnes in December 2020).
Russia's overall estimated PET consumption totalled 805,470 tonnes in 2021, up by 13% year on year (714,760 tonnes in 2020).
Invista is a global manufacturer of chemical intermediates, polymers and fibers. From parts for the automotive industry to medical equipment, air bags, food packaging, carpet and clothing, our ingredients in the nylon 6,6 and polypropylene value chains help bring many of life’s essential products to market. A subsidiary of Koch Industries since 2004, Invista is committed to innovation and responsibly creating more value for its customers and society while consuming fewer resources to make these products.
MRC