Yantai Wanhua Receives Production License of Huntsman PO/MTBE
Huntsman has recently announced that it has signed a licensing agreement with Yantai Wanhua Polyurethane Co., Ltd. in China to produce propylene oxide (PO) and methyl tert-butyl ether (MTBE) as a PO by-product. Terms of the transaction have not been announced.
With this license, Yantai Wanhua, the premier polyurethane market in Asia, plans to build a new world-class PO/MTBE plant at its Yantai, Shandong, production site. The new plant is scheduled to start construction later this year and will be put into operation by the end of 2013.
Huntsman's polyurethane division has a world-class manufacturing facility in the United States.
Huntsman President and CEO Peter Huntsman said in a statement: "We expect this cooperation will bring business opportunities in other areas, which is beneficial to both parties."
As for Yantai Wanhua, Chairman Ding Jiansheng commented: “The cooperation with Huntsman has achieved a win-win situation for both parties and the entire polyurethane industry. Huntsman has advanced PO technologies in the world. There is no doubt that Helping us to achieve our vision of becoming a world-class green chemical producer. We have the greatest potential in the Chinese chemical market and Wanhua’s local technical expertise. Obtaining a PO/MTBE production license will help our company The Yantai Port's comprehensive chemical base is a real success."
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