WICHITA, KAN. (Aug. 8, 2 p.m. ET) — Specialty plastics and chemicals firm Invista has acquired PET resin and feedstock technology from La Seda de Barcelona SA for an undisclosed price.
The transaction covers intellectual property related to PET, purified terephthalic acid feedstock and related process technologies. Wichita, Kan.-based Invista now has full rights to license these technologies in Europe, the Middle East and Africa.
Invista and Barcelona-based La Seda had co-licensed these products through a joint venture company since 2000. The acquisition was made through Invista's Performance Technologies unit, which is based in Wilton Centre, England.
“To complement our leading PTA technology, we also offer leading PET technology that...provides the maximum plant capacity available in a single stream design,” Invista Performance Technologies general manager Mike Pickens said in an Aug. 8 news release.
Invista exited the commodity PET market when it sold its business to Indorama Ventures Public Co. Ltd. In late 2010. The firm continues to makes specialty polyester resins and is a leader in global production of nylon resin and feedstocks.