FasTech Signed a Technology Contract in China

Through this contract Yanchang will receive a license to utilize for its industrial development project in Yan‘an (Shaanxi province) FasTech‘s proprietary technology to manufacture ethylene-propylene-(diene)-rubber (EPDM) in a plant with a design capacity of 50.000 tons/year. Yanchang EPDM plant should start operations in the second quarter of 2014 and will be fed with monomers to be produced in the new methanol to olefins plant, which Yanchang is building in the same location. As provided in the contract, FasTech will supply Yanchang with an extended process design package and other technical services. China Chengda Engineering Co. of Chengdu, Sichuan, will subsequently develop the engineering services (basic and detailed engineering).