An Acquisition With Good Chemistry
Petrochemical sector engineering market shifts with strategic purchase of GTC Technology by Sulzer.
Already a market leader in separation and mixing technology, Sulzer has extended its petrochemical process capability further with the purchase of the US-headquartered specialist, GTC Technology. The move adds a range of licensed process technologies and additional engineering resources to Sulzer’s existing process plant design, construction and commissioning capabilities.
The reliable performance of refinery and petrochemical plant facilities is vital to an industry that is determined by global fluctuations in crude prices. Strategic investment is critical in overall profitability as an efficient plant can offset extreme market deviations. Finding trusted partners to supply dependable technology in any part of the world is essential to refiners and petrochemical companies.
With this significant acquisition, Sulzer Chemtech is consolidating its role as a petrochemical process technology provider. 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 complementary scope of GTC’s expertise pushes Sulzer Chemtech further into technology licensing for the refinery and petrochemical industry, including complete engineering packages, proprietary equipment, and the supply of chemical solvents and catalysts.
The two businesses agree there is a huge potential for growth. “GTC Technology has successfully applied its process technologies to complete many significant projects. We believe that together we could double – if not triple – the business in three to five years.” explains Daniel Rytz, Global Head Strategy & Business Development at Sulzer Chemtech.
Chuck Fink, Manager – Corporate Communications at GTC Technology, comments: “The entire staff at GTC is very excited about becoming part of Sulzer’s team and the opportunities that a larger provider of separation equipment offers. Our customers will certainly benefit from the synergy between our businesses, a greater depth of resources and a more comprehensive offering.”
Daniel Rytz adds: “We are very pleased to welcome GTC Technology to Sulzer. I believe that the combination of its process technology licensing with Sulzer’s expertise as a full-service provider for mass transfer equipment and solutions will help provide an outstanding offering to process industries worldwide.
“Based on a year-long discussion with GTC prior to the purchase, I could clearly see the signs of strong chemistry and compatibility between the companies. Our ways of thinking and views on future development are similar and well-aligned. These contribute to the creation of a motivational working environment that nurtures new ideas and ensures continuous improvement of our solutions.”
Both Sulzer and GTC Technology’s engineering teams are looking forward to sharing knowledge and strengthening their overall manufacturing capabilities. Now, GTC customers can benefit from Sulzer’s global network of facilities for designing, manufacturing, testing, maintaining and repairing mass transfer components. Similarly, Sulzer was keen to expand its operations in South Korea, where GTC has a large, established manufacturing center.