(Yicai Global) Oct. 8 -- A Chinese company that is one of the world's biggest makers of butanone, a key ingredient in glue and paint, is set to acquire new industrial knowhow thanks to a deal with multinational Honeywell UOP.

Qixiang Tengda Chemical will purchase propane dehydrogenation technology from Honeywell UOP with the aim of exploring markets related to propane, propylene and other C3 petrochemicals, the Zibo-based firm said in a statement.

Details related to the implementation of the agreement are yet to be confirmed and will require formal project contracts, the company added.

UOP, the petrochemical industry-related unit of Honeywell International, provides technologies and products relevant to petroleum, refining and combustion for the global market.

Editors: William Clegg