DES PLAINES, Ill., Oct. 22, 2014 /PRNewswire/ -- UOP LLC, a
Honeywell (NYSE: HON) company, announced today that CEPSA Chemical
(Shanghai) Co., Ltd., will
use UOP process technology to meet demand in China for key petrochemicals used to make
plastics for the fast-growing domestic construction and automotive
industries.
CEPSA Chemical (Shanghai) will
use UOP's Phenol process to produce high quality phenol and
by-product acetone, key building blocks for polycarbonate plastics
used in construction and automobile production. The new facility
will be built at the Shanghai Chemical Industry Park.
China is the world's largest
consumer of polycarbonate plastics, representing nearly 30 percent
of global consumption. Demand is expected to grow by 13 percent
annually during the next 10 years. CEPSA Chemical (Shanghai) is majority owned by CEPSA, an
integrated energy company based in Spain.
"We are devoted to the Chinese market, and with this plant,
CEPSA will have a network of facilities away from its home country
in order to meet demand where the growth is taking place," said
Fernando Iturrieta, chief executive
officer of CEPSA Química. "Despite recent, lower than expected
growth figures, China will
continue to be a growing market and CEPSA wants to be there. We are
very proud of this project in Shanghai, as it is the first investment of
CEPSA in Northern Asia."
The new complex in China will
have a capacity of 250,000 MTA of phenol and 150,000 MTA of
acetone, and will make CEPSA the second-largest producer of phenol
in the world.
In addition to technology licensing, UOP will provide process
design and start-up services for the Shanghai complex, which is expected to begin
production in November 2014. The new
phenol plant will be integrated with CEPSA Chemical's cumene plant,
which is being built at the same site.
"UOP and CEPSA have been technological partners across the
entire value chain of the refining and petrochemicals industry for
nearly 40 years," said Pete
Piotrowski, senior vice president and general manager of
UOP's Process Technology and Equipment business unit. "CEPSA, a top
global phenol producer, currently operates three UOP Phenol units
in Spain and our technology has a
proven track record of performance and safety in those
operations."
UOP's Phenol process is inherently safer, more economical to
build, easier to operate, and provides higher product yields than
competitive technologies. UOP's total licensed phenol production
capacity exceeds 3.4 million MTA, with more than 2.5 million MTA of
new capacity added during the past 10 years.
Phenol and acetone are important organic chemical
intermediates. They are widely used in the production of
polycarbonate, phenolic resin, caprolactam, bisphenol-A (BPA),
salicylic acid, fibers, plastics, synthetic rubber,
pharmaceuticals, dyes, coatings, and epoxy resins. China is the world's fastest-growing market
for phenol and acetone.
CEPSA is an integrated energy company operating at every
stage of the oil value chain, with more than 11,000 employees. It
is engaged in petroleum and natural gas exploration and production
activities, including refining, the transport and sale of crude oil
derivatives, petrochemicals, gas and electricity. CEPSA is
Spain's fourth largest industrial
group in terms of revenue and has been in the market for more than
80 years.
UOP LLC (www.uop.com) is a leading international supplier
and licensor of process technology, catalysts, adsorbents,
equipment, and consulting services to the petroleum refining,
petrochemical, and gas processing industries. UOP is a wholly-owned
subsidiary of Honeywell International, Inc. and is part of
Honeywell's Performance Materials and Technologies strategic
business group, which also includes Honeywell Process Solutions, a
pioneer in automation control, instrumentation and services for the
oil and gas, refining, petrochemical, chemical and other
industries.
Honeywell (www.honeywell.com) is a Fortune 100
diversified technology and manufacturing leader, serving customers
worldwide with aerospace products and services; control
technologies for buildings, homes, and industry; turbochargers;
and performance materials. For more news and
information on Honeywell, please visit
www.honeywellnow.com.
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SOURCE Honeywell