Columbia, MD (GLOBE NEWSWIRE) - W. R. Grace & Co. (NYSE:GRA), the leading supplier of polyolefin catalyst technology and polypropylene (PP) process technology, has contracted to license its UNIPOL® PP Process Technology to Sinochem Quanzhou Petrochemical Co., Ltd. for a 1-million-ton-per-year ethylene cracker and refinery expansion project at its facility in Quanzhou, Fujian province, China. The new 350-kiloton-per-year line is expected to begin operations in 2020 to produce high-end impact copolymers.
The Quanzhou operation is a subsidiary of Sinochem Group of Beijing, one of China’s four state oil companies and its leading chemical service provider. Sinochem Quanzhou previously licensed UNIPOL® PP Process Technology in 2009 for a 200-kiloton-per-year line in Quanzhou that started up in 2014.
The project represents the 26th UNIPOL® PP Process Technology reactor lines licensed in China. With this license, the total design capacity of UNIPOL® PP lines in China will exceed 8,000 kilotons per year.
Grace's all gas-phase UNIPOL® PP Process Technology provides the most advanced and broadest range of homopolymers, random copolymers, and impact copolymers in the industry. As the simplest of all PP process technologies, with fewer moving parts and less equipment than any alternative, its reliable, stable, and predictable operation leads to lower capital, operating, and maintenance costs.
Tang Huiyuan, Standing Deputy General Manager of Sinochem Quanzhou and General Manager of the ethylene cracker project, said, “Our priority is to efficiently deliver a broad range of products to our customers. This technology is widely accepted and allows us to be extremely competitive.”
Al Beninati, President of Grace’s Specialty Catalysts business segment, said, “Grace is especially pleased that the success of our previous UNIPOL® PP Process installation at Sinochem Quanzhou is now followed with another. The technology, along with Grace’s non-phthalate CONSISTA® catalysts, will help Sinochem Group remain a leader in this industry.”
Visit Grace’s website for more information about Grace polyolefin catalysts and process technology.
About Grace’s UNIPOL® PP Process Technology
Grace is the leading supplier of polyolefin catalyst technology and has the broadest portfolio of polyolefin catalyst technologies of any independent polyethylene/polypropylene catalyst producer. Grace is an industry leader in offering UNIPOL® PP Process Technology, 6thGeneration non-phthalate CONSISTA® catalysts and donors, and UNIPOL UNIPPAC® Process Control software.
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customer partners around the world. With approximately 3,700 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
UNIPOL® and UNIPOL UNIPPAC® are trademarks of The Dow Chemical Company or an affiliated company of Dow. W. R. Grace & Co.-Conn. and/or its affiliates are licensed to use the UNIPOL® and UNIPOL UNIPPAC® trademarks in the area of polypropylene.
This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. Forward-looking statements include, without limitation, expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. For these statements, Grace claims the protection of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: risks related to foreign operations, especially in emerging regions; the cost and availability of raw materials and energy; the effectiveness of its research and development and growth investments; acquisitions and divestitures of assets and gains and losses from dispositions; developments affecting Grace’s outstanding indebtedness; developments affecting Grace's funded and unfunded pension obligations; its legal and environmental proceedings; uncertainties related to the company’s ability to realize the anticipated benefits of the separation transaction; the inability to establish or maintain certain business relationships and relationships with customers and suppliers or the inability to retain key personnel during the period following the separation transaction; costs of compliance with environmental regulation; and those additional factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet at www.sec.gov. Reported results should not be considered as an indication of future performance. Readers are cautioned not to place undue reliance on Grace's projections and forward-looking statements, which speak only as the date thereof. Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
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SOURCE: W. R. Grace & Co.