|
PTT Poly Canada: start-up phase begins
Production expected to start in fall 2004
June 21, 2004 - PTT Poly Canada, a 50/50 partnership between the Société générale de financement du Québec (SGF) and Shell Chemicals Canada, today announced that it was beginning the start-up phase of the first world-scale production facility of polytrimethylene terephthalate (PTT) in the Montreal East industrial park. Henri A. Roy, Chairman of the Board, President and CEO of SGF, Stanley Park, Vice-President PDO/PTT of Shell Chemicals and Claude Bilodeau, General Manager of PTT Poly Canada met with the media at the company’s new plant, which is expected to begin production in the fourth quarter 2004.
"After Interquisa Canada and Pétrochimie Coastal, PTT Poly Canada completes the development of a unique industrial cluster in North America in the petrochemical sector. It is a good example of the role SGF wants to play in the Québec economy generally and in the development of a world-class petrochemical industry in particular. The participation of Investissement Québec also confirms the government’s willingness to support high value-added projects that contribute to economic growth and improve Québec’s industrial fabric", said SGF president Roy.
The PTT Poly Canada facility will produce up to 95,000 metric tons of PTT per year. This polymer is used in the manufacture of fibers for textiles, carpeting, apparel, plastic films and other products. About 100 direct and indirect jobs will be created. SGF has invested some $100 million in the enterprise, to which Investissement Québec also contributed $15 million, including a $5 million loan, to build the plant.
"We are particularly happy with this partnership with Shell Chemicals Canada. Its expertise, coupled with the quality of the technology and products, is an indication that this first PTT plant will confirm Montréal’s leading role in the global petrochemical industry", added Roy.
Polytrimethylene terephthalate (PTT)
PTT, sold under the trade name CORTERRA®, is a thermoplastic polymer made from two feedstocks: 1,3-propanediol (PDO) and purified terephthalic acid (PTA). It can be processed into fiber or thread for the textile or plastics market. CORTERRA® combines the best proprerties of nylon and polyester: it is softer, stretchier, fade-resistant, easy-clean and quick-drying. A Shell Chemicals Canada affiliate working with Zimmer AG developed PTT in its present form in the 1990s and also the production technology for spinning PTT.
The Société générale de financement du Québec (SGF) is an industrial and financial holding company whose mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy. (sgfqc.com)
- 30 -
Source : Sylvie Brousseau
Director, Communications
|