Sulzer has strengthened its Chemtech business with the acquisition of GTC Technology US, a technology company offering proprietary processes and systems for the production of aromatics and other petrochemicals.
This acquisition expands its revenue base to process licensing and associated proprietary equipment and chemicals. The enterprise value is $39 million (CHF 39 million).
GTC combines its highly specialised 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 commercialises licensed processes, including proprietary equipment and chemicals, for the petrochemical industry worldwide. The specific processes are engineered in-house, with a strong focus on aromatisation, C5 processing, BTX recovery and gas to liquids processing.
GTC is headquartered in Houston, Texas. The company generates annual revenues of around $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.
For more information visit www.sulzer.com