Sulzer acquired GTC Technology US, LLC, a technology company offering proprietary processes and systems for the production of aromatics and other petrochemicals, Sulzer announced May 2. This acquisition strengthens Sulzer Chemtech’s position in petrochemical processes and expands its revenue base to process licensing and associated proprietary equipment and chemicals, the company said. The enterprise value is $39 million.
GTC combines its highly specialized 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 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 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.