Invista buys PTA, PET licensing rights in Europe, Middle East and Africa
US-based specialty chemicals producer Invista has acquired polyethylene terephthalate (PET) resin and feedstock technology rights from La Seda de Barcelona.
The acquisition includes intellectual property related to PET, purified terephthalic (PTA) acid feedstock and related process technologies.
The acquisition also entitles Invista's subsidiary Invista Performance Technologies full rights to license these technologies in Europe, the Middle East and Africa.
In 2000, Invista and Barcelona-based La Seda transferred the ownership of intellectual property and licensing rights for these products to a regional joint venture company.
Invista Performance Technologies' Mike Pickens said Invista is the global market leader in PTA technology licensing with more producers choosing to use the company's technology than any other.
"We continue to innovate, providing technology that offers low capital cost, low operating cost, high reliability and a small environmental footprint," Pickens added.
"To complement our leading PTA technology, we also offer leading PET technology that, amongst other benefits, provides the maximum plant capacity available in a single stream design.
"We are delighted to now be able to work directly with our customers in this region."
The financial details of the acquisition have not been disclosed.