Sulzer strengthens Chemtech business through GTC Technology acquisition
Sulzer announced it has acquired GTC Technology US, LLC, a technology company offering proprietary processes and systems for the production of aromatics and other petrochemicals.
This acquisition strengthens Sulzer Chemtech’s leadership in petrochemical processes and expands its revenue base to process licensing and associated proprietary equipment and chemicals. Adding to the company’s capacity to design and deliver a broad range of offerings from refinery column internals to complete bioplastic (PLA) production plants, the new expanded business expands Sulzer’s capability into a much wider territory.
The enterprise value is USD 39 million (CHF 39 million).
GTC combines its highly specialized expertise in the licensing of process-based plant engineering with long-standing industry experience. The resulting solutions reflect 30 years of development work in the petrochemical and refining sectors. GTC develops and commercializes licensed processes, including proprietary equipment and chemicals, for the petrochemical industry worldwide. The specific processes are engineered in-house, with a strong focus on aromatization, C5 processing, BTX recovery and gas to liquids processing.
GTC is headquartered in Houston, Texas. The company generates annual revenues of around USD 50 million and a high single-digit EBITA margin. It employs around 200 people globally.
This acquisition strengthens Sulzer Chemtech’s position as a leading technology provider for a wide portfolio of technologies and provides a market entry into the attractive technology licensing business. Sulzer’s global engineering and manufacturing capabilities, its leadership position in tower internals for mass transfer and its global network will accelerate the growth of GTC and yield measurable synergies.
Signing and closing took place simultaneously.
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From the April 2018 issue of Hydrocarbon Processing