Invista invests in Asia Innovation Center
Invista, one of the world's largest chemical producers, is to further invest 95 million yuan (US$15 million) to set up an Asia Innovation Center at the Shanghai Chemical Industry Park.
Fully operational by the end of the year, it will be the company's first research and development center for nylon 66 in Asia, a milestone for the company in enhancing the nylon 66 value chain in China.
Last June the company invested 7 billion yuan to build a world-scale adiponitrile (ADN) plant, also at the park. Adiponitrile is an intermediate chemical used in the production of nylon 66.
Nylon 66 is used in the automobile, electrical and electronic industries and in many other consumer and industrial applications.
Covering 2,500 square meters and near its integrated nylon 66 facility in the park, the new center will focus on application needs in engineering polymers for key industries such as automobiles, electrical and electronics.
"China plays an increasingly important role in Invista's global business, and the plan to establish the Asia Innovation Center in Shanghai is a clear example of our commitment to further supplying strong local and regional demand for high-quality nylon products as China is also expected to become the world's largest nylon consumer," said Pete Brown, Invista's executive vice president of nylon polymer.
"Innovation continues to be a strong area of focus for Invista and our customers as we work together to broaden the application in engineering polymers. We anticipate that the Asia Innovation Center will enable us to quickly respond to local customers' needs and facilitate downstream application upgrades," said Angela Dou, director of intermediates, Asia, Invista.