Honeywell's UOP To Help Chinese Manufacturer Meet Construction, Automotive Demand
November 14, 2014
CEPSA Chemical (Shanghai) Co., Ltd., will use Honeywell’s 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.”
For more information, read the press release.