Desmet Ballestra, a supplier of plants and equipment and licensee of CTi's vegetable oil refining technology, has entered into a agreement with a refinery in South Korea that produces soybean oil. Under the terms of the deal, Desmet will install Cti's edible oil processing system
The process is expected to be completed by the second quarter of 2014. The South Korean soybean oil refinery processes more than 200 tons of oil per day.
The installation marks CTi's second sales agreement in Asia this year. Recently, the company installed its system in India and believes the region provides enormous potential in the edible oil processing industry moving forward.
CTi expects an initial down payment from the sales agreement in the first quarter of 2014 and additional revenue in the remaining quarters.
Desmet Ballestra focuses on engineering and supply of plants and equipment for the oils, fats, animal feed industries, detergents, surfactants and related chemical industries and the oleochemical and biodiesel industries.
