Huntsman signs licensing agreement with Yantai Wanhua in China

Huntsman signs licensing agreement with Yantai Wanhua in China

12:06 PM, 17th June 2011
Huntsman signs licensing agreement with Yantai Wanhua in China
Peter R Huntsman, President and CEO, Huntsman Corporation.

THE WOODLANDS, US: Huntsman Corporation has signed a licence agreement with Chinese chemicals manufacturer Yantai Wanhua Polyurethanes Co Ltd, 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, plans to leverage the licence to build a worldscale PO/ MTBE plant at its facility in Yantai, Shandong province, with construction expected to commence later this year and production due in late 2013.

 

“Huntsman is pleased with the relationship 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. We look forward to working with Yantai Wanhua in building this PO/ MTBE facility,” said Peter R Huntsman, President and CEO, Huntsman Corporation.

 

Yantai Wanhua Polyurethanes Co Ltd informed that Huntsman was one of the leading PO technology holders. With China’s huge chemical market potential and Wanhua’s local expertise, the PO/MTBE license will enable them to see success in the Wanhua Yantai portside integrated chemical complex.

© WOC News

 

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