Sulzer acquires GTC Technology US, LLC
10 May 2019
Sulzer acquires 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. The enterprise value is USD 39 M (CHF 39 M).
GTC combines its highly specialized expertise in the licensing of process-based plant engineering with long-standing industry experience. 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 generates annual revenues of around USD 50M and a high single-digit EBITA margin.
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.