16062014Ingenieria de Procesos de Separacion 2edi Wankat
-
Upload
omar-manuel-verde-hidalgo -
Category
Documents
-
view
97 -
download
0
Transcript of 16062014Ingenieria de Procesos de Separacion 2edi Wankat
-
*OHFOJFSBEFQSPDFTPTEFTFQBSBDJO4&(6/%"&%*$*/
1)*--*1$8"/,"5
53"%6$$*/
7JSHJMJP(PO[MF[Z1P[P*OHFOJFSP2VNJDP
6OJWFSTJEBE/BDJPOBM"VUOPNBEF.YJDP
3&7*4*/5$/*$"
4FSHJP"OUPOJP(NF[5PSSFT%FQBSUBNFOUPEF*OHFOJFSBEF1SPDFTPTF)JESVMJDB
*OHFOJFSB2VNJDB6OJWFSTJEBE"VUOPNB.FUSPQPMJUBOB6OJEBE*[UBQBMBQB
-
"VUIPSJ[FEUSBOTMBUJPOGSPNUIF&OHMJTIMBOHVBHFFEJUJPOFOUJUMFE4FQBSBUJPO1SPDFTT&OHJOFFSJOHOEFEJUJPOCZ1IJMMJQ$8BOLBUQVCMJTIFECZ1FBSTPO&EVDBUJPO*ODQVCMJTIJOHBT1SFOUJDF)BMM*OD$PQZSJHIU"MMSJHIUTSFTFSWFE
*4#/
5SBEVDDJOBVUPSJ[BEBEFMBFEJDJOFOJEJPNBJOHMTUJUVMBEB4FQBSBUJPO1SPDFTT&OHJOFFSJOHOEFEJUJPOQPS1IJMMJQ$8BOLBUQVCMJDBEBQPS1FBSTPO&EVDBUJPO*ODQVCMJDBEBDPNP1SFOUJDF)BMM$PQZSJHIU5PEPTMPTEFSFDIPTSFTFSWBEPT
&TUBFEJDJOFOFTQBPMFTMBOJDBBVUPSJ[BEB
&EJDJOFOFTQBPM&EJUPS 3VCO'VFSUF3JWFSB FNBJMSVCFOGVFSUF!QFBSTPOFEDPN&EJUPSEFEFTBSSPMMP #FSOBSEJOP(VUJSSF[)FSOOEF[4VQFSWJTPSEFQSPEVDDJO (VTUBWP3JWBT3PNFSP
4&(6/%"&%*$*/
%3QPS1FBSTPO&EVDBDJOEF.YJDP4"EF$7"UMBDPNVMDPPQJTP$PM*OEVTUSJBM"UPUP/BVDBMQBOEF+VSF[&EPEF.YJDP
$NBSB/BDJPOBMEFMB*OEVTUSJB&EJUPSJBM.FYJDBOB3FH/N
1SFOUJDF)BMMFTVOBNBSDBSFHJTUSBEBEF1FBSTPO&EVDBDJOEF.YJDP4"EF$7
3FTFSWBEPTUPEPTMPTEFSFDIPT/JMBUPUBMJEBEOJQBSUFEFFTUBQVCMJDBDJOQVFEFOSFQSPEVDJSTFSFHJTUSBSTFPUSBOTNJUJSTFQPSVOTJTUFNBEFSFDVQFSBDJOEFJOGPSNBDJOFOOJOHVOBGPSNBOJQPSOJOHONFEJPTFBFMFDUSOJDPNFDOJDPGPUPRVNJDPNBHOUJDPPFMFDUSPQUJDPQPSGPUPDPQJBHSBCBDJOPDVBMRVJFSPUSPTJOQFSNJTPQSFWJPQPSFTDSJUPEFMFEJUPS
&MQSTUBNPBMRVJMFSPDVBMRVJFSPUSBGPSNBEFDFTJOEFVTPEFFTUFFKFNQMBSSFRVFSJSUBNCJOMBBVUPSJ[BDJOEFMFEJUPSPEFTVTSFQSFTFOUBOUFT
*4#/
*NQSFTPFO.YJDP1SJOUFEJO.FYJDP
%BUPTEFDBUBMPHBDJOCJCMJPHSDB
8"/,"51)*--*1$
*OHFOJFSBEFQSPDFTPTEFTFQBSBDJO4FHVOEBFEJDJO
1&"340/&%6$"$*/.YJDP
*4#/SFB$JFODJBT
'PSNBUP3DN 1HJOBT
-
1BSB%PU$IVDLZ+FOOJF
-
$POUFOJEP
Prefacio xvAgradecimientos xviiAcerca del autor xixNomenclatura xxi
Captulo 1 Introduccin a la ingeniera de procesos de separacin 1
1.1. Importancia de las separaciones 1 1.2. El concepto de equilibrio 2 1.3. Transferencia de masa 4 1.4. Mtodos para resolver los problemas 5 1.5. Prerrequisitos 7 1.6. Otras fuentes sobre ingeniera de procesos de separacin 8 1.7. ResumenObjetivos 9 Referencias 9 Tarea 10
Captulo 2 Destilacin instantnea 12
2.1. Mtodo bsico de destilacin instantnea 12 2.2. Forma y fuentes de los datos de equilibrio 14 2.3. Representacin grca del equilibrio binario vapor-lquido 16 2.4. Destilacin instantnea binaria 21
2.4.1. Procedimiento secuencial de solucin 21 Ejemplo 2-1. Separador de evaporacin instantnea para etanol y agua 242.4.2. Procedimiento de solucin simultnea 27
2.5. Equilibrio vapor-lquido con varios componentes 29 2.6. Destilacin instantnea de varios componentes 34 2.7. Convergencia simultnea con varios componentes 40 2.8. Clculo de los tamaos 45 2.9. Uso de tambores de destilacin existentes 49 2.10. ResumenObjetivos 50 Referencias 51 Tarea 52 Apndice al captulo 2 Simulacin en computadora de la destilacin instantnea 59
WJJ
-
WJJJ $POUFOJEP
Captulo 3 Introduccin a la destilacin en columna 65
3.1. Desarrollo de una cascada de destilacin 65 3.2. Equipo de destilacin 72 3.3. Especicaciones 74 3.4. Balances externos de la columna 76
&KFNQMP#BMBODFTFYUFSOPTQBSBEFTUJMBDJOCJOBSJB 3.5. ResumenObjetivos 81 Referencias 81 Tarea 81
Captulo 4 Destilacin en columna: balances internos, etapa por etapa 86
4.1. Balances internos 86 4.2. Mtodos de solucin de etapa por etapa, para destilacin binaria 90
&KFNQMP$MDVMPTFUBQBQPSFUBQBDPOFMNUPEPEF-FXJT 4.3. Introduccin al mtodo de McCabe-Thiele 97 4.4. Lnea de alimentacin 101
&KFNQMP$MDVMPTEFMBMOFBEFBMJNFOUBDJO 4.5. Mtodo completo de McCabe-Thiele 109
&KFNQMP.UPEPEF.D$BCF5IJFMF 4.6. Perles para destilacin binaria 112 4.7. Calentamiento con vapor directo 114
&KFNQMP"OMJTJTEF.D$BCF5IJFMFEFDBMFOUBNJFOUPDPOWBQPSEJSFDUP
4.8. Procedimiento general de anlisis McCabe-Thiele 118 &KFNQMP%FTUJMBDJODPOEPTBMJNFOUBDJPOFT
4.9. Otras situaciones en las columnas de destilacin 1254.9.1. Condensadores parciales 1254.9.2. Vaporizadores totales 1264.9.3. Corrientes laterales o lneas de salida 1264.9.4. Vaporizadores intermedios y condensadores intermedios 1284.9.5. Columnas de agotamiento y enriquecimiento 129
4.10. Condiciones lmite de operacin 1304.11. Eciencias 1334.12. Problemas de simulacin 1354.13. Usos nuevos para columnas viejas 1364.14. Reujo subenfriado y vapor sobrecalentado al plato inferior 1384.15. Comparaciones entre los mtodos analticos y los grcos 1404.16. ResumenObjetivos 142 Referencias 143 Tarea 144 Apndice al captulo 4 Simulaciones de destilacin binaria en computadora 158
Captulo 5 Introduccin a la destilacin de varios componentes 161
5.1. Dicultades de clculo 161 &KFNQMP#BMBODFTFYUFSOPTVTBOEPSFDVQFSBDJPOFTGSBDDJPOBSJBT
5.2. Perles para destilacin de varios componentes 167 5.3. ResumenObjetivos 172 Referencias 172 Tarea 172
-
$POUFOJEP JY
Captulo 6 Procedimientos de clculo exacto para destilacin de varios componentes 176
6.1. Introduccin a la solucin matricial para destilacin de varios componentes 176 6.2. Balances de masa de componentes en forma de matrices 178 6.3. Proposicin inicial para tasas de ujo 181 6.4. Clculos de punto de burbuja 181
&KFNQMP5FNQFSBUVSBEFQVOUPEFCVSCVKB 6.5. Mtodo de convergencia 184
&KFNQMP$MDVMPEFNBUSJDFTZDPOWFSHFODJBDPO 6.6. Balances de energa en forma matricial 191 6.7. ResumenObjetivos 194 Referencias 195 Tarea 195 Apndice al captulo 6 Simulaciones en computadora de columnas
de destilacin de varios componentes 200
Captulo 7 Mtodos abreviados aproximados para destilacin de varios componentes 205
7.1. Reujo total: Ecuacin de Fenske 205 &KFNQMP&DVBDJOEF'FOTLF
7.2. Reujo mnimo: Ecuaciones de Underwood 210 &KFNQMP&DVBDJPOFTEF6OEFSXPPE
7.3. Correlacin de Gilliland para la cantidad de etapas a relacin de reujo nita 215 &KFNQMP$PSSFMBDJOEF(JMMJMBOE
7.4. ResumenObjetivos 219 Referencias 219 Tarea 220
Captulo 8 Introduccin a mtodos complejos de destilacin 225
8.1. Ruptura de azetropos con otros separadores 225 &KFNQMP4FDBEPEFCFODFOPQPSEFTUJMBDJO
8-2. Procesos de destilacin azeotrpica binaria heterognea 2278.2.1. Azetropos heterogneos binarios 2278.2.2. Secado de compuestos orgnicos parcialmente miscibles con agua 230 &KFNQMP%FTUJMBDJOQPSBSSBTUSFDPOWBQPSEFBHVB
8.3. Destilacin por arrastre de vapor 234 8.4. Procesos de destilacin a dos presiones 238 8.5. Sistemas ternarios complejos de destilacin 239
8.5.1. Curvas de destilacin 2408.5.2. Curvas de residuo 243
8.6. Destilacin extractiva 245 8.7. Destilacin azeotrpica con solvente agregado 251 8.8. Destilacin con reaccin qumica 255 8.9. ResumenObjetivos 258 Referencias 258 Tarea 260 Apndice al captulo 8 Simulacin de sistemas complejos de destilacin 270
Captulo 9 Destilacin intermitente 276
9.1. Destilacin intermitente binaria: Ecuacin de Rayleigh 278
-
Y $POUFOJEP
9.2. Destilacin intermitente binaria simple 279 &KFNQMP%FTUJMBDJOTJNQMFEF3BZMFJHI
9.3. Destilacin intermitente a nivel constante 283 9.4. Destilacin intermitente por arrastre con vapor de agua 284 9.5. Destilacin intermitente en varias etapas 285
9.5.1. Relacin de reujo constante 286 &KFNQMP%FTUJMBDJOJOUFSNJUFOUFFOWBSJBTFUBQBT 9.5.2. Relacin de reujo variable 290
9.6. Tiempo de operacin 291 9.7. ResumenObjetivos 292 Referencias 292 Tarea 293
Captulo 10 Diseo de columnas de platos y empacadas 301
10.1. Descripcin de los equipos en las columnas de platos 30110.1.1. Platos, bajantes y vertederos 30410.1.2. Entradas y salidas 306
10.2. Eciencias de platos 309 &KFNQMP&TUJNBDJOEFMBFDJFODJBHFOFSBM
10.3. Clculo del dimetro de la columna 314 &KFNQMP$MDVMPEFMEJNFUSPQBSBVOBDPMVNOBEFQMBUPT
10.4. Distribucin y consideraciones hidrulicas para platos perforados 320 &KFNQMP%JTUSJCVDJOEFQMBUPZDMDVMPTIJESVMJDPT
10.5. Diseo de platos de vlvulas 327 10.6. Introduccin al diseo de columnas empacadas 329 10.7. Partes internas de las columnas empacadas 329 10.8. Altura del empaque. Mtodo de la Hetp 331 10.9. Inundacin de la columna empacada y clculo del dimetro 333
&KFNQMP$MDVMPEFMEJNFUSPEFVOBDPMVNOBFNQBDBEB 10.10. Consideraciones econmicas 34110.11. ResumenObjetivos 345 Referencias 345 Tarea 348
Captulo 11 Economa y conservacin de energa en la destilacin 354
11.1. Costos de destilacin 354 11.2. Efectos de la operacin sobre los costos 359
&KFNQMP&TUJNBDJOEFMDPTUPQBSBVOBEFTUJMBDJO 11.3. Cambios en capacidades de la planta 366 11.4. Conservacin de la energa en la destilacin 366 11.5. Sntesis de secuencias de columnas para destilacin de varios componentes
casi ideales 370 &KFNQMP4FDVFODJBDJOEFDPMVNOBTDPOIFVSTUJDBT
11.6. Sntesis de sistemas de destilacin para mezclas ternarias no ideales 376 &KFNQMP%FTBSSPMMPEFQSPDFTPTQBSBTFQBSBSVOBNF[DMB
UFSOBSJBDPNQMFKB 11.7. ResumenObjetivos 380 Referencias 380 Tarea 382
-
$POUFOJEP YJ
Captulo 12 Absorcin y arrastre 385
12.1. Equilibrios de absorcin y arrastre 387 12.2. Lneas de operacin para absorcin 389
&KFNQMP"OMJTJTHSDPEFMBBCTPSDJO 12.3. Anlisis del arrastre 394 12.4. Dimetro de la columna 396 12.5. Solucin analtica: La ecuacin de Kremser 397
&KFNQMP"OMJTJTEFTFQBSBEPSEFBSSBTUSFDPOMBFDVBDJOEF,SFNTFS
12.6. Absorbedores y separadores de arrastre con varios solutos diluidos 403 12.7. Solucin matricial para absorbedores y separadores de arrastre
con soluciones concentradas 406 12.8. Absorcin irreversible 410 12.9. ResumenObjetivos 411 Referencias 412 Tarea 413 Apndice al captulo 12 Simulaciones de absorcin y arrastre en computadora 421
Captulo 13 Extraccin inmiscible, lavado, lixiviacin y extraccin supercrtica 424
13.1. Procesos y equipos de extraccin 424 13.2. Extraccin a contracorriente 428
13.2.1. Mtodo de McCabe-Thiele para sistemas diluidos 428 &KFNQMP&YUSBDDJOEJMVJEBBDPOUSBDPSSJFOUFDPOGBTFTJONJTDJCMFT 13.2.2. Mtodo de Kremser para sistemas diluidos 434
13.3. Extraccin fraccionada diluida 435 13.4. Extraccin en una etapa y con ujo cruzado 439
&KFNQMP&YUSBDDJOEFVOBQSPUFOBDPOVOBFUBQBZVKPDSV[BEP 13.5. Extraccin con fases inmiscibles y concentradas 443 13.6. Extraccin intermitente 444 13.7. Procedimientos generalizados de McCabe-Thiele y de Kremser 445 13.8. Lavado 448
&KFNQMP-BWBEP 13.9. Lixiviacin 45213.10. Extraccin con uido supercrtico 45413.11. Aplicacin a otras separaciones 45713.12. ResumenObjetivos 457 Referencias 457 Tarea 459
Captulo 14 Extraccin de sistemas parcialmente miscibles 468
14.1. Equilibrios en extraccin 468 14.2. Clculos en mezclado y la regla de la palanca 471 14.3. Sistemas de una etapa y ujo cruzado 474
&KFNQMP&YUSBDDJOFOVOBFUBQB 14.4. Cascadas de extraccin a contracorriente 477
14.4.1. Balances externos de masa 47714.4.2. Puntos de diferencia y clculos de etapa por etapa 47914.4.3. Problema completo de extraccin 483 &KFNQMP&YUSBDDJOBDPOUSBDPSSJFOUF
-
YJJ $POUFOJEP
14.5. Relacin entre los diagramas de McCabe-Thiele y triangulares 485 14.6. Flujo mnimo de solvente 486 14.7. Simulaciones de la extraccin en computadora 488 14.8. Lixiviacin con tasas de ujo variables 489
&KFNQMP$MDVMPTQBSBMJYJWJBDJO 14.9. ResumenObjetivos 492 Referencias 492 Tarea 493 Apndice al captulo 14 Simulacin de la extraccin en computadora 499
Captulo 15 Anlisis de la transferencia de masa 501
15.1. Fundamentos de la transferencia de masa 501 15.2. Anlisis de las columnas de destilacin con altura y nmero de unidades
de transferencia (HTU y NTU) 504 &KFNQMP%FTUJMBDJOFOVOBDPMVNOBFNQBDBEB
15.3. Relacin entre HETP y HTU 511 15.4. Correlaciones de transferencia de masa para torres empacadas 513
15.4.1. Correlaciones detalladas para empaques aleatorios 513 &KFNQMP&TUJNBDJOEF)
(Z)
- 15.4.2. Correlaciones sencillas 520
15.5. Anlisis HTU-NTU de absorbedores y separadores de arrastre 521 &KFNQMP"CTPSDJOEF40
15.6. Anlisis HTU-NTU de absorbedores concurrentes 526 15.7. Transferencia de masa en un plato 528
&KFNQMP&TUJNBDJOEFMBFDJFODJBEFQMBUP 15.8. ResumenObjetivos 531 Referencias 531 Tarea 532
Captulo 16 Introduccin a los procesos de separacin con membrana 535
16.1. Equipos de separacin con membrana 537 16.2. Conceptos relacionados con las membranas 541 16.3. Permeacin de gases 544
16.3.1. Permeacin de mezclas binarias de gases 54416.3.2 Permeacin binaria en sistemas perfectamente mezclados 547 &KFNQMP1FSNFBEPEFHBTCJFONF[DMBEPTPMVDJO
BOBMUJDBTFDVFODJBM &KFNQMP1FSNFBDJOEFHBTCJFONF[DMBEPTPMVDJPOFT
TJNVMUOFBTBOBMUJDBZHSDB 16.3.3 Permeacin de varios componentes en sistemas perfectamente
mezclados 555 &KFNQMP1FSNFBDJOHBTFPTBQFSGFDUBNFOUFNF[DMBEB
EFWBSJPTDPNQPOFOUFT 16.4. smosis inversa 558
16.4.1. Anlisis de la smosis y la smosis inversa 558 &KFNQMPTNPTJTJOWFSTBTJOQPMBSJ[BDJOEFDPODFOUSBDJO 16.4.2. Determinacin experimental de las propiedades de las membranas 564 &KFNQMP%FUFSNJOBDJOEFMBTQSPQJFEBEFTEFNFNCSBOBT
QBSBTNPTJTJOWFSTB
-
$POUFOJEP YJJJ
16.4.3. Determinacin de la polarizacin de concentracin 566 &KFNQMPTNPTJTJOWFSTBDPOQPMBSJ[BDJOEFDPODFOUSBDJO &KFNQMP$MDVMPEFMBPQFSBDJOEFTNPTJTJOWFSTBDPO
QPMBSJ[BDJOEFDPODFOUSBDJO 16.4.4. smosis inversa con soluciones concentradas 573
16.5. Ultraltracin 573 &KFNQMP6MUSBMUSBDJODPOGPSNBDJOEFHFM
16.6. Pervaporacin 579 &KFNQMP1FSWBQPSBDJODMDVMPEFGBDUJCJMJEBE &KFNQMP1FSWBQPSBDJOEFTBSSPMMPEFVOEJTFPGBDUJCMF
16.7. Efectos de la pauta de ujo general 588 &KFNQMP&GFDUPTEFMBQBVUBEFVKPTPCSFMBQFSNFBDJOEFHBTFT 16.7.1. Permeacin binaria con ujo cruzado 59016.7.2. Permeacin binaria concurrente 59216.7.3. Flujo binario a contracorriente 594
16.8 ResumenObjetivos 595 Referencias 596 Tarea 597 Apndice al captulo 16 hojas de clculo para clculos con pautas de ujo,
para permeacin de gases 60316.A.1. Flujo cruzado 60316.A.2. Flujo concurrente 60516.A.3. Flujo a contracorriente 607
Captulo 17 Introduccin a la adsorcin, cromatografa e intercambio inico 609
17.1. Sorbentes y equilibrio de sorcin 61017.1.1. Deniciones 61017.1.2. Tipos de sorbente 61217.1.3. Comportamiento de equilibrio en adsorcin 615 &KFNQMP&RVJMJCSJPEFBETPSDJO
17.2. Anlisis del movimiento de soluto para sistemas lineales: fundamentos y aplicaciones a la cromatografa 62117.2.1. Movimiento del soluto en una columna 62317.2.2. Teora del movimiento del soluto para isotermas lineales 62517.2.3. Aplicacin de la teora lineal del movimiento del soluto a ciclos
de purga y a la cromatografa de elucin &KFNQMP"OMJTJTMJOFBMEFMNPWJNJFOUPEFMTPMVUPFO
DSPNBUPHSBGBEFFMVDJO 17.3. Anlisis de movimiento de soluto para sistemas lineales: Adsorcin trmica
y con variacin de presin, y movimiento simulado de lecho 63117.3.1. Adsorcin con oscilacin de temperatura 631 &KFNQMP3FHFOFSBDJOUSNJDBDPOJTPUFSNBMJOFBM 17.3.2. Adsorcin con oscilacin de presin 641 &KFNQMP4JTUFNBEFBETPSDJODPOPTDJMBDJOEFQSFTJO 17.3.3. Lechos mviles simulados 649 &KFNQMP4JTUFNBEFMFDIPNWJMTJNVMBEP
17.4. Anlisis de movimiento no lineal del soluto 65417.4.1. Ondas difusas 655 &KFNQMP0OEBEJGVTB
626
-
YJW $POUFOJEP
17.4.2. Ondas de choque 658 &KFNQMP0OEBEFDIPRVFBVUPBMBEPSB
17.5. Intercambio inico 66317.5.1. Equilibrio en el intercambio inico 66417.5.2. Movimiento de los iones 667 &KFNQMP.PWJNJFOUPEFJPOFTQBSBJOUFSDBNCJP
EJWBMFOUFNPOPWBMFOUF 17.6. Transferencia de masa y energa 672
17.6.1. Transferencia de masa y difusin 67217.6.2. Balances de masa en la columna 67417.6.3. Transferencia de masa con parmetro agrupado 67517.6.4. Balances de energa y transferencia de calor 67617.6.5. Deduccin de la teora del movimiento del soluto 67717.6.6. Simuladores detallados 678
17-7. Soluciones de transferencia de masa para sistemas lineales 67817.7.1. Solucin de Lapidus y Amundson para equilibrio local con dispersin 67917.7.2. Superposicin en sistemas lineales 680 &KFNQMP4PMVDJOEF-BQJEVTZ"NVOETPOQBSBFMVDJO 17.7.3. Cromatografa lineal 683 &KFNQMP%FUFSNJOBDJOEFMPTQBSNFUSPTEFVOBJTPUFSNB
MJOFBM/ZMBSFTPMVDJOFODSPNBUPHSBGBMJOFBM 17.8. Mtodo LUB para sistemas no lineales 687
&KFNQMP.UPEP-6# 17.9. Lista de control para diseo y operacin en la prctica 69117.10. ResumenObjetivos 693 Referencias 693 Tarea 696 Apndice al captulo 17 Introduccin al simulador Aspen Chromatography 708
Gua de localizacin de problemas en Aspen Plus para separaciones 713
Respuestas a problemas seleccionados 717
OEJDF
-
1SFGBDJP
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iKVTUPBUJFNQPuBNFEJEBRVFTFOFDFTJUB-PTDBQUVMPTZPSJHJOBMFTTPCSFFMNUPEPEF.D$BCF5IJFMFQBSBBOBMJ[BSMBEFTUJMBDJOCJOBSJBTFIBODPNCJOBEPFOVOPTPMPFMOVFWPDBQUVMP&MNUPEPEF.D$BCF5IJFMFTFTJHVFVTBOEPDPNPNFEJPEFWJTVBMJ[BDJOZHVBQBSBMPDBMJ[BSQSPCMFNBTBVORVFZBOPTFVTBFO&6"QBSBEJTFPTEFUBMMBEPT4FDPOTFSWBSPOUSFTDBQUVMPTTPCSFEFTUJMBDJOEFWBSJPTDPNQPOFOUFTMPTOVFWPTDBQUVMPTB
QFSPFOGPSNBTJNQMJDBEB&MBMDBODFEFMDBQUVMPTPCSFEFTUJMBDJODPNQMFKBFMOVFWP
YW
-
DBQUVMPTFIBBNQMJBEPQBSBSFFKBS MPTBWBODFTFOMBDPNQSFOTJOEFMBEFTUJMBDJOFYUSBDUJWBZB[FPUSQJDB5BNCJOTFIBBNQMJBEPMBFYQPTJDJOEFMBEFTUJMBDJOJOUFSNJUFOUFFMOVFWPDBQUVMP -PTEPTDBQUVMPTPSJHJOBMFTTPCSFEJTFPEFDPMVNOBTTFIBODPNCJOBEPFOFMOVFWPDBQUVMP-BJOGPSNBDJOFDPONJDBEFMBOUFSJPSDBQUVMPTFIBDPOEFOTBEPQPSRVFFOHFOFSBMTFFOTFBFOMBTDMBTFTEFEJTFP4JOFNCBSHPFMNBUFSJBMTPCSFDPOTFSWBDJOEFFOFSHBZTFDVFODJBDJOEFMBTDPMVNOBTEFEFTUJMBDJOEFFTFDBQUVMPTFIBBNQMJBEPQBSBBCBSDBSBMHVOPTEFMPTBWBODFTFOEFTUJMBDJODPNQMFKBFOFMOVFWPDBQUVMP-PTDBQUVMPTZBOUFSJPSFTTFIBODPNCJOBEPFOFMOVFWPDBQUVMPVTBOEPFMNUPEPEF.D$BCF5IJFMFZMBFDVBDJOEF,SFNTFSQBSBFYUSBDDJOJONJTDJCMFMBWBEPMJYJWJBEPZFYUSBDDJOTVQFSDSUJDB-BTFDDJOTPCSFIVNJEJDBDJOTFIBFMJNJOBEPEFMDBQUVMPFMOVFWPDBQUVMP
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
YWJ 1SFGBDJP
-
YWJJ
"HSBEFDJNJFOUPT
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
"HSBEF[DPUBNCJOMBBZVEBEF-FF.FBEPXT+FOOJ-BZOFZ,BSFO)FJEFFOMBQSFQBSBDJO EF MB TFHVOEB FEJDJO *HVBMNFOUF B MPT SFWJTPSFT +PIO)FZEFJMMFS 4UFXBSU 4MBUFS Z+PF4IBFJXJU[QPSTVTUBOUJMFTSFWJTJPOFT-PTOJNPTZBQSFNJPTPDBTJPOBMFTEFNJFEJUPS#FSOBSE(PPEXJO GVFSPOEFNVDIBBZVEBQBSBRVFQSFQBSBSBFTUB UBOEFNPSBEBTFHVOEBFEJDJO
1PSMUJNPOPIBCSBUFSNJOBEPMBTFHVOEBFEJDJOTJOFMBNPSZFMBQPZPEF%PUNJFTQPTBZNJTIJKPT$IVDLZ+FOOJF
-
YJY
"DFSDBEFMBVUPS
1IJMMJQ$8BOLBUPTUFOUB FM UUVMP EF1SPGFTPS%JTUJOHVJEP$MJGUPO--PXFMM FO *OHFOJFSB2VNJDBZFT%JSFDUPSEF1SPHSBNBTEF-JDFODJBUVSBFOFM%FQBSUBNFOUPEF&EVDBDJOFO*OHFOJFSB EF MB 1VSEVF6OJWFSTJUZ)B FTUBEP JOWPMVDSBEP FO MB JOWFTUJHBDJO Z FOTFBO[B EFTFQBSBDJPOFTEVSBOUFNTEFBPTZUJFOFHSBOJOUFSTFOFMNFKPSBNJFOUPEFMBFOTFBO[BZFMBQSFOEJ[BKFEFMBJOHFOJFSB&TBVUPSEFEPTMJCSPTBDFSDBEFDNPFOTFBSZUSFTTPCSFQSPDFTPTEFTFQBSBDJO)BSFDJCJEPWBSJPTQSFNJPTOBDJPOBMFTEFJOWFTUJHBDJOZPUSPTQSFNJPTMPDBMFTZOBDJPOBMFTBMBFOTFBO[B
-
YYJ
/PNFODMBUVSB
$BQUVMPTBB SFBJOUFSGBDJBMQPSVOJEBEEFWPMVNFOQJFQJFPNNBQ SFBTVQFSDJBMWPMVNFON
NBQBQBQB5B5B5 DPOTUBOUFTFOMBFDVBDJOZMBUBCMB"#$ DPOTUBOUFTFOMBFDVBDJOEF"OUPJOF
"#$%& DPOTUBOUFTFOMBFDVBDJO
"#$% DPOTUBOUFTFOMBGPSNBNBUSJDJBMEFCBMBODFTEFNBTB
FDVBDJPOFTZ
"&$&%& DPOTUBOUFTFOMBGPSNBNBUSJDJBMEFCBMBODFTEFFOFSHBFDVBDJO
"BDUJWB SFBBDUJWBEFQMBUPQJF
PN"D SFBUSBOTWFSTBMEFMBDPMVNOBQJF
PN"E SFBEFCBKBOUFQJF
PN"EV SFBEFVKPCBKPFMNBOEJMEFMBCBKBOUFFDVBDJO
QJF
"BHVKFSP SFBEFMPTBHVKFSPTFOMBDPMVNOBQJF
"* SFBJOUFSGBDJBMFOUSFEPTGBTFTQJF
PN"OFUB SFBOFUBFDVBDJO
QJF
PNC DPOTUBOUFEFFRVJMJCSJPMJOFBMZNYC# UBTBEFVKPEFDPMBTPGPOEPT$ DBOUJEBEEFDPNQPOFOUFT$#. DPTUPEFNEVMPFTDVFUPDBQUVMP$G- DPFDJFOUFEFDBSHBEFWBQPSFDVBDJO
$P DPFDJFOUFEFPSJDJPFDVBDJO
$Q DBQBDJEBEDBMPSDB#UVMC'#UVMCNPM'PDBMH$PDBMHNPM$FUD$Q DPTUPCBTFEFDPNQSBDBQUVMP$QUBNBP GBDUPSEFUBNBPEFFNQBRVFUBCMB$Q8 DBQBDJEBEDBMPSDBEFMBHVB$T GBDUPSEFDBQBDJEBEFOJOVOEBDJOFDVBDJO
$TC GBDUPSEFDBQBDJEBEFDVBDJO
E% GBDUPSEFBNPSUJHVBNJFOUPFDVBDJO
% EJGVTJWJEBEDNTQQJFI%%JB EJNFUSPEFMBDPMVNOBQJFTPN%DPM EJNFUSPEFMBDPMVNOBWBTFUBCMBQJFT%UPUBM DBOUJEBEUPUBMEFEFTUJMBEPDBQUVMP
VKPEFNPMFTPLHEFEFTUJMBEPLH
NPMIPMCNPMIF BSSBTUSFBCTPMVUPNPMFTI
-
& UBTBEFVKPEFMFYUSBDUPDBQUVMPTZ
LHI NBTBEFFYUSBDUPLH&L WBMPSEFMBGVODJOEFFOFSHBQBSBUBOUFPLFDVBDJO
&.-&.7 FDBDJBTEF.VSQIFFEFMRVJEPZWBQPSFDVBDJPOFTZ
&P FDJFODJBHFOFSBMFDVBDJO
&QU FDJFODJBQVOUVBMFDVBDJOPB
FTQ FTQBDJPFOUSFNBOEJMEFMBCBKBOUFIBTUBFMQMBUPFDVBDJO
QJFTU SFUFODJOEFGBTFEFFYUSBDUPFOUBORVFNTTFEJNFOUBEPSLHG7' GSBDDJOWBQPSJ[BEBGY GVODJOEFFRVJMJCSJPDBQUVMPGL7' GVODJOEF3BDIGPSE3JDFQBSBUBOUFP,FDVBDJO' GBDUPSEFFNQBRVFHVSBZUBCMBTZ' HSBEPTEFMJCFSUBEFDVBDJO
' DBSHBBMQPDJMMPEFMEFTUJMBEPSDBQUVMP
NPMFTPLH' NBTBEFBMJNFOUBDJOFOFYUSBDDJOJOUFSNJUFOUFLH' UBTBEFVKPEFBMJNFOUBDJOLHNPMIPMCNPMIPLHIFUD'% UBTBEFVKPEFMEJMVZFOUFDBQUVMP
LHI
'MW'1LALK
AK
AK
A
-
LmYLmZ DPFDJFOUFTJOEJWJEVBMFTEFUSBOTGFSFODJBEFNBTBFOGBTFTMRVJEBZWBQPS
WBTFMBUBCMBLZ DPFDJFOUFEFUSBOTGFSFODJBEFNBTBFOTPMVDJPOFTDPODFOUSBEBTFDVBDJO
LYLZ DPFDJFOUFJOEJWJEVBMEFUSBOTGFSFODJBEFNBTBFOVOJEBEFTEFQFTP,% DPFDJFOUFEFEJTUSJCVDJOZYQBSBFYUSBDDJOEJMVJEB,,J ZJYJSFMBDJOEFWBQPSMRVJEPFOFRVJMJCSJP,UBNC QBSNFUSPQBSBDBMDVMBSVQFSNQBSBUBNCPSFTEFFWBQPSBDJOJOTUBOUOFB
FDVBDJO
,Y,Z DPFDJFOUFHFOFSBMEFUSBOTGFSFODJBEFNBTBFOGBTFMRVJEBPWBQPSMC
NPMQJFIMX MPOHJUVEEFMWFSUFEFSPQJFT- UBTBEFVKPEFMRVJEPLHNPMIPMCNPMI-m
UBTBEFVKPEFNBTBEFMRVJEPMCIDBQUVMP
- VKPEFMRVJEPMCTQJF
-H UBTBEFVKPEFMRVJEPFOHBMNJODBQUVMPN DPOTUBOUFEFFRVJMJCSJPMJOFBMZNYCN QFOEJFOUFMPDBMEFMBDVSWBEFFRVJMJCSJPFDVBDJO
N SFMBDJO)&51QSDUJDB)&51FNQBRVFFDVBDJO
. UBTBEFVKPEFMBDPSSJFOUFNJYUBDBQUVMP
LHI. NVMUJQMJDBEPSQPS-%NODBQUVMP
O DBOUJEBEEFNPMFTO( ONFSPEFVOJEBEFTEFUSBOTGFSFODJBEFGBTFHBTFPTBO- ONFSPEFVOJEBEFTEFUSBOTGFSFODJBEFGBTFMRVJEBO0( ONFSPEFVOJEBEFTHFOFSBMFTEFUSBOTGFSFODJBEFGBTFHBTFPTBO0- ONFSPEFVOJEBEFTHFOFSBMFTEFUSBOTGFSFODJBEFGBTFMRVJEBOPSH NPMFTEFTVTUBODJBPSHOJDBFOWBQPSFOEFTUJMBDJOQPSBSSBTUSFOX NPMFTEFBHVBFOWBQPSFOEFTUJMBDJOQPSBSSBTUSF/ ONFSPEFFUBQBT/" VKPEF"MCNPMIQJF
PLHNPMIN
/G/BMJN FUBQBEFBMJNFOUBDJO/NO ONFSPEFFUBQBTDPOSFVKPUPUBM/BMJNNO VCJDBDJOFTUJNBEBEFMBFUBQBEFBMJNFOUBDJODPOSFVKPUPUBM/56 ONFSPEFVOJEBEFTEFUSBOTGFSFODJB0 VKPUPUBMEFEFSSBNFFOMBWBEPLHIQQUPU QSFTJOBUNL1BQTJCBSFUDQmQ# QSFTJOQBSDJBM1 DBOUJEBEEFGBTFT1. QFTPNPMFDVMBS17 QSFTJOEFWBQPSNJTNBTVOJEBEFTRVFQ2 -''--'DBMJEBEEFMBBMJNFOUBDJO2 DBOUJEBEEFFOFSHBUSBOTGFSJEB#UVILDBMIFUD2D DBSHBEFDBMPSFODPOEFOTBEPS2 QSEJEBEFDBMPSFOFMUBNCPSEFFWBQPSBDJOJOTUBOUOFB23 DBSHBEFDBMPSFOFMWBQPSJ[BEPSS SBEJPEFMBDPMVNOBQJFTPN3 DPOTUBOUFEFMHBT3 UBTBEFVKPEFMSFOBEPDBQUVMPTZ
LHI3 NBTBEFSFOBEPLH3 U SFUFODJOEFGBTFEFSFOBEPFOUBORVFZTFEJNFOUBEPSLH4 UBTBEFVKPEFTPMWFOUFDBQUVMP
LHNPMIPMCNPMI
/PNFODMBUVSB YYJJJ
-
4 EJTUBODJBFOUSFQMBUPTQVMHBEBTFDVBDJO
4 NPMFTTFHVOEPEFTPMWFOUFFOEFTUJMBDJOJOUFSNJUFOUFBOJWFMDPOTUBOUF4| NBTBEFTPMWFOUFLH4 UBTBEFVKPEFTPMWFOUFDBQUVMP
LHI4D- ONFSPEF4DINJEUQBSBFMMRVJEP%4DW ONFSPEF4DINJEUQBSBFMWBQPS%U UJFNQPTNJOVIUJOUFS QFSJPEPQBSBMBEFTUJMBDJOJOUFSNJUFOUFFDVBDJO
UQBSP UJFNQPEFQBSPFOMBEFTUJMBDJOJOUFSNJUFOUFUPQFS UJFNQPEFPQFSBDJOFOMBEFTUJMBDJOJOUFSNJUFOUFUSFT UJFNQPEFSFTJEFODJBFOMBCBKBOUFFDVBDJO
TUQMBUP FTQFTPSEFMQMBUPQVMHBEBT5 UFNQFSBUVSB$',P35SFG UFNQFSBUVSBEFSFGFSFODJBV WFMPDJEBEEFMWBQPSDNTPQJFTTVJOVO WFMPDJEBEEFJOVOEBDJOFDVBDJO
VPQ WFMPDJEBEEFPQFSBDJOFDVBDJO
VQFSN WFMPDJEBEQFSNJTJCMFEFWBQPSFDVBDJO
6 UBTBEFVKPEFMGPOEPDBQUVMP
LHIW WFMPDJEBETVQFSDJBMEFWBQPSQJFTTWP WFMPDJEBEEFWBQPSQPSMPTBHVKFSPTFDVBDJO
QJFTTWPCBM WFMPDJEBEBMBRVFTFCBMBODFBMBWMWVMBFDVBDJO
7 UBTBEFVKPEFWBQPSLHNPMIPMCNPMI7 WPMVNFONPMBMFDVBDJO
7NY UBTBNYJNBEFVKPEFWBQPS7TFEJN WPMVNFOEFMBTFOUBEPSN
7UBORVF WPMVNFOEFMUBORVFN
7HPMQF WPMVNFOEFHPMQFSFQFOUJOPFOUBNCPSEFFWBQPSBDJOJOTUBOUOFB
HVSBQJF8- UBTBEFVKPEFMRVJEPLHIPMCI8- 'MVKPEFNBTBMRVJEBMCTQJF
PMCIQJFDBQUVMP
87 UBTBEFVKPEFWBQPSLHIPMCIY GSBDDJOEFQFTPPNPMBSFOMRVJEPY -%FOMBTFDVBDJPOFT
Y GSBDDJONPMEFFRVJMJCSJPFOMRVJEPYJLYJL UBOUFPTQBSBJOUFHSBDJOFDVBDJO
Y* GSBDDJONPMJOUFSGBDJBMFOMRVJEPYTBM GSBDDJONPMEFMRVJEPFOFRVJMJCSJPDPOHBTEFFOUSBEBFDVBDJOC
9 SFMBDJOEFQFTPPNPMFOMRVJEPZ GSBDDJOEFQFTPPNPMBSFOWBQPSZ GSBDDJONPMEFFRVJMJCSJPFOWBQPSZTBM GSBDDJONPMEFWBQPSFOFRVJMJCSJPDPOFMMRVJEPEFFOUSBEBFOTJTUFNBB
DPOUSBDPSSJFOUFFDVBDJOBPFOFRVJMJCSJPDPOFMMRVJEPEFTBMJEBFODPOUBDUPSDPODVSSFOUFFDVBDJO
Z* GSBDDJONPMJOUFSGBDJBMFOWBQPSZm GSBDDJOEFNBTBFOWBQPS: SFMBDJOEFQFTPPNPMBSFOWBQPS[ GSBDDJOEFQFTPPNPMBSFOBMJNFOUBDJO[ EJTUBODJBBYJBMFOFMMFDIPDBQUVMP
YYJW /PNFODMBUVSB
-
-FUSBTHSJFHBT
"# ,",#WPMBUJMJEBESFMBUJWB "BHVK"BDUJWB DPFDJFOUFEFBDUJWJEBEQ EJNFOTJODBSBDUFSTUJDBEFMFNQBRVFQVMHBEBFDVBDJOB
J QBSNFUSPEFTPMVCJMJEBEFDVBDJO
DBNCJPFOMBWBSJBCMF&
FOFSHBMBUFOUFEFWBQPSJ[BDJOFDVBDJO
MNJUFQBSBDPOWFSHFODJB GSBDDJOEFDPMVNOBEJTQPOJCMFQBSBVKPEFWBQPS OHVMPEFMBCBKBOUFHVSB# DBMPSMBUFOUFEFWBQPSJ[BDJOLDBMLH#UVMC#UVMCNPMFUD WJTDPTJEBEDQX WJTDPTJEBEEFMBHVBDQ- EFOTJEBEEFMMRVJEPHDNMCQJFPLHN7 EFOTJEBEEFMWBQPS UFOTJOTVQFSDJBMEJOBTDN QBSNFUSPEFFNQBDBNJFOUPFOGBTFMRVJEBFDVBDJO
ED EFOTJEBESFMBUJWBEFFTQVNBFOCBKBOUFFDVBDJO
BHVB-DBQUVMP FF-
BSSBTUSFGSBDDJPOBSJPDBQUVMP QBSNFUSPEFFNQBDBNJFOUPQBSBGBTFHBTFPTBFDVBDJO
$BQUVMPBBK USNJOPFOFDVBDJPOFTDVBESUJDBTQBSBTJTUFNBTEFNFNCSBOBCJFO
NF[DMBEPTFDVBDJPOFTC
ZB
DPOTUBOUFFOMBFDVBDJOQBSBDBMDVMBSMBQSFTJOPTNUJDBL1BGSBDDJO
NPMFDVBDJOB
B DPOTUBOUFFOMBFDVBDJOQBSBDBMDVMBSMBQSFTJOPTNUJDBL1BGSBDDJOEF
QFTPFDVBDJOCBJ BDUJWJEBEFTFDVBDJO
" SFBEFNFNCSBOBEJTQPOJCMFQBSBUSBOTGFSFODJBEFNBTBDNPNCCK USNJOPFOFDVBDJPOFTDVBESUJDBTQBSBTJTUFNBTEFNFNCSBOBCJFO
NF[DMBEPTFDVBDJPOFTD
ZC
DDKUSNJOPFOFDVBDJPOFTDVBESUJDBTQBSBTJTUFNBTEFNFNCSBOBCJFONF[DMBEPTFDVBDJPOFTE
ZD
D DPODFOUSBDJOHTPMVUP-TPMVDJODTBM DPODFOUSBDJOEFTPMVUPFOMBTBMJEBH-DQ DPODFOUSBDJOEFTPMVUPFOFMQFSNFBEPH-DX DPODFOUSBDJOEFTPMVUPFOMBQBSFEH-D DPODFOUSBDJOEFBHVBFOFMQFSNFBEPFOMBHVSB$1-Q DBQBDJEBEDBMPSDBEFMMRVJEPEFMQFSNFBEPL+LH$
$17Q DBQBDJEBEDBMPSDBEFMWBQPSEFMQFSNFBEPL+LH$
EU EJNFUSPEFMUVCPDNEUBORVF EJNFUSPEFMUBORVFDN% EJGVTJWJEBEFOMBTPMVDJODNT%N EJGVTJWJEBEFOMBNFNCSBOBDN
T'Q UBTBEFVKPWPMVNUSJDPEFMQFSNFBEPDN
T'TBM UBTBEFVKPWPMVNUSJDPEFMQFSNFBEPRVFTBMFDN
T'TPMW UBTBEFVKPWPMVNUSJDPEFMTPMWFOUFFOTNPTJTJOWFSTBDN
T
/PNFODMBUVSB YYW
-
' UBTBEFVKPNPMBSHNPMTHNPMNJOFUD' UBTBEFVKPEFNBTBHTHNJOLHNJOFUDI EJTUBODJBFOUSFQMBDBTQBSBMFMBTDNIFOU FOUBMQBEFMBDPSSJFOUFMRVJEBRVFFOUSBFOQFSWBQPSBDJOL+LHITBM FOUBMQBEFMBDPSSJFOUFMRVJEBEFSFUFOJEPFOQFSWBQPSBDJOL+LH)" QBSNFUSPEFTPMVCJMJEBEDDDPOEJDJPOFTOPSNBMFT)Q FOUBMQBEFMBDPSSJFOUFEFWBQPSEFQFSNFBEPFOQFSWBQPSBDJOL+LHL DPFDJFOUFEFUSBOTGFSFODJBEFNBTBFOGPSNBUQJDBDNTFDVBDJO
,TPMW QFSNFBCJMJEBEEFMTPMWFOUFQPSMBNFNCSBOB-BUNN
EBPVOJEBEFTTJNJMBSFT
K DPOUBEPSQBSBVCJDBDJOEFMBFUBQBFONPEFMPTFOFUBQBTFOMBHVSB
+ VKPWPMVNUSJDPDNTDNPNNEB
FDVBDJOC
+ VKPEFNBTBHTDNPHNEB
FDVBDJOD
+ VKPNPMBSHNPMTDNPLHNPMEBN
FDVBDJOE
," QFSNFBCJMJEBEEFMTPMVUPHNEBGSBDDJOFOQFTP
,NJ USNJOPEFSBQJEF[EFUSBOTGFSFODJBQBSBQFSNFBDJOEFNVMUJDPNQPOFOUFT
HBTFPTPTBEJNFOTJPOBMFDVBDJOE
- MPOHJUVEEFUVCPDN. NEVMPEFDPODFOUSBDJOEFQPMBSJ[BDJOFOVOJEBEFTEFGSBDDJOEFQFTP
BEJNFOTJPOBMFDVBDJO
.D NEVMPEFDPODFOUSBDJOEFQPMBSJ[BDJOFOVOJEBEFTEFDPODFOUSBDJO
BEJNFOTJPOBMFDVBDJO
/ ONFSPEFFUBQBTCJFONF[DMBEBTFOMPTNPEFMPTEFMBHVSBQ QSFTJO1BL1BBUNNN)HFUDQ" QSFTJOQBSDJBMEFMBFTQFDJF"1BBUNNN)HFUD1. QFTPNPMFDVMBSHNPMPLHLHNPMQQ QSFTJOUPUBMFOFMMBEPEFMQFSNFBEPCBKBQSFTJO
1BL1BBUN
NN)HFUDQS QSFTJOUPUBMFOFMMBEPEFMSFUFOJEPBMUBQSFTJO
1BL1BBUNNN)HFUD3 DPFDJFOUFEFSFDIB[PFOVOJEBEFTEFGSBDDJOEFQFTPBEJNFOTJPOBM
FDVBDJO
30 DPFDJFOUFEFSFDIB[PJOIFSFOUF.
BEJNFOTJPOBMFDVBDJO
3D DPFDJFOUFEFSFDIB[PFOVOJEBEFTEFDPODFOUSBDJOBEJNFOTJPOBM
FDVBDJO
3 SBEJPEFUVCPDN3F ONFSPEF3FZOPMETBEJNFOTJPOBMFDVBDJOC
4D ONFSPEF4DINJEUBEJNFOTJPOBMFDVBDJOD
4I /NFSPEF4IFSXPPEBEJNFOTJPOBMFDVBDJOB
UNT FTQFTPSEFMBQJFMEFMBNFNCSBOBEPOEFTFIBDFMBTFQBSBDJONNN
DNPN5 UFNQFSBUVSB$5SFG UFNQFSBUVSBEFSFGFSFODJB$VC WFMPDJEBEHFOFSBMFOUVCPDNTWTPMWFOUF WPMVNFONPMBSQBSDJBMEFMTPMWFOUFDN
HNPMY GSBDDJOFOQFTPEFMSFUFOJEPFOQFSWBQPSBDJO&OTJTUFNBCJOBSJPJOEJDB
MBFTQFDJFNTQFSNFBCMFYH GSBDDJOFOQFTPBMBRVFTFHFMBFMTPMVUPFOVMUSBMUSBDJOYQ GSBDDJOFOQFTPEFTPMVUPFOQFSNFBEPMRVJEPFOTNPTJTJOWFSTBZ
VMUSBMUSBDJOYS GSBDDJOFOQFTPEFTPMVUPFOSFUFOJEPTNPTJTJOWFSTBZVMUSBMUSBDJO
YYWJ /PNFODMBUVSB
-
Z GSBDDJOFOQFTPEFQFSNFBEPFOQFSWBQPSBDJO&OTJTUFNBCJOBSJPJOEJDBMBFTQFDJFNTQFSNFBCMF
ZQ GSBDDJONPMEFTPMVUPFOQFSNFBEPEFHBTQBSBQFSNFBDJOEFHBTZS GSBDDJONPMEFTPMVUPFOSFUFOJEPEFHBTQBSBQFSNFBDJOEFHBTZSX GSBDDJONPMEFTPMVUPFOSFUFOJEPEFHBTFOMBQBSFEEFMBNFNCSBOBZU" GSBDDJONPMEFTPMVUP"FOFMHBTRVFBUSBWJFTBMBNFNCSBOB-FUSBTHSJFHBT
TFMFDUJWJEBEBEJNFOTJPOBMQFSNFBDJOEFHBTFDVBDJOC
TNPTJTJOWFSTBFDVBDJO
QFSWBQPSBDJOFDVBDJOB
Y EJGFSFODJBFOGSBDDJPOFTEFQFTPEFTPMVUPBUSBWTEFMBNFNCSBOB EJGFSFODJBEFQSFTJPOFTPTNUJDBTBUSBWTEFMBNFNCSBOB1BBUN
NN)HFUD QSFTJOPTNUJDB1BL1BBUNNN)HFUD DPSUF'Q'FOUDPOVKPTFOVOJEBEFTNPMBSFTBEJNFOTJPOBM DPSUF'Q'FOUFOVOJEBEFTEFVKPEFNBTBBEJNFOTJPOBM WJTDPTJEBEDFOUJQPJTFPHDNT
WJTDPTJEBEDJOFNUJDBDNTTPMW EFOTJEBEEFNBTBEFMTPMWFOUFLHNrTPMW EFOTJEBENPMBSEFMTPMWFOUFLHNPMN
Q DBMPSMBUFOUFEFWBQPSJ[BDJOQPSNBTBEFMQFSNFBEPFOQFSWBQPSBDJO
EFUFSNJOBEPBMBUFNQFSBUVSBEFSFGFSFODJBL+LH WFMPDJEBEEFMBHJUBEPSSBEJBOFTT$BQUVMPB DPOTUBOUFFOMBJTPUFSNBEF-BOHNVJSNJTNBTVOJEBEFTRVFRDFDVBDJO
D
B BSHVNFOUPQBSBMBGVODJOFSSPSBEJNFOTJPOBMFDVBDJO
UBCMBBQ SFBTVQFSDJBMEFMBTQBSUDVMBTQPSVOJEBEEFWPMVNFON
"D SFBUSBOTWFSTBMEFMBDPMVNOBN
"X SFBTVQFSDJBMEFMBQBSFEQPSWPMVNFOEFDPMVNOBQBSBUSBOTGFSFODJBEFDBMPSN
C DPOTUBOUFFOMBJTPUFSNBEF-BOHNVJSDPODFOUSBDJOFDVBDJOD
D" DPODFOUSBDJOEFMBFTQFDJF"LHN
LHNPMNHMJUSPFUDDJ DPODFOUSBDJOEFMBFTQFDJFJLHN
LHNPMNHMJUSPFUDPDJ DPODFOUSBDJOEFMJPOJFOMBTPMVDJOFOGPSNBUQJDBFRVJWBMFOUFTN
DJ
DPODFOUSBDJOEFMBFTQFDJFJRVFFTUBSBFOFRVJMJCSJPDPORJmNJTNBT
VOJEBEFTRVFDJDmJ DPODFOUSBDJOQSPNFEJPEFTPMVUPFOQPSPNJTNBTVOJEBEFTRVFDJDQPSP DPODFOUSBDJOEFVJEPFOMBTVQFSDJFEFMPTQPSPTEFBETPSCFOUFNJTNBT
VOJEBEFTRVFDJDJTVQFS DPODFOUSBDJOEFVJEPFOMBTVQFSDJFEFMBTQBSUDVMBTQ
NJTNBTVOJEBEFTRVFDJD3J DPODFOUSBDJOEFMJPOJFOMBSFTJOBFOGPSNBUQJDBFRVJWBMFOUFTN
D35 DPODFOUSBDJOUPUBMEFJPOFTFOMBSFTJOBFOGPSNBDBSBDUFSTUJDB
FRVJWBMFOUFTND5 DPODFOUSBDJOUPUBMEFJPOFTFOTPMVDJOFOGPSNBDBSBDUFSTUJDB
FRVJWBMFOUFTN$J DPOTUBOUFRVFSFMBDJPOBMBWFMPDJEBEEFMTPMVUPBMBWFMPDJEBEJOUFSTUJDJBM
BEJNFOTJPOBMFDVBDJOF
$1G DBQBDJEBEDBMPSDBEFMVJEPDBMH$
DBMHNPM$
+H,
FUD$1Q DBQBDJEBEDBMPSDBEFMBQBSUDVMBJODMVZFOEPVJEPFOTVTQPSPTNJTNBT
VOJEBEFTRVF$1G
/PNFODMBUVSB YYWJJ
-
$1T DBQBDJEBEDBMPSDBEFMTMJEPNJTNBTVOJEBEFTRVF$1G$1X DBQBDJEBEDBMPSDBEFMBQBSFENJTNBTVOJEBEFTRVF$QGEQ EJNFUSPEFQBSUDVMBDNPN% SBQJEF[EFEFTPSDJOFO4.#NJTNBTVOJEBEFTRVF'%' SFMBDJOEFEFTPSCFOUFBBMJNFOUBDJOFO4.#BEJNFOTJPOBM%DPM EJNFUSPEFDPMVNOBNPDN% EJGVTJWJEBEJODMVZFOEPEJGVTJWJEBEFTNPMFDVMBSZEF,OVETFONTPDNT%FGFDUJWB EJGVTJWJEBEFGFDUJWBN
TPDNTFDVBDJO
%, EJGVTJWJEBEEF,OVETFON
TPDNTFDVBDJO
%NPMFDVMBS EJGVTJWJEBENPMFDVMBSFOTPMVDJOMJCSFN
TPDNT%T EJGVTJWJEBETVQFSDJBMN
TPDNTFDVBDJO
FSG GVODJOFSSPSFDVBDJOZUBCMB&% DPFDJFOUFEFEJTQFSTJOBYJBMEFCJEPBFGFDUPTEFUVSCVMFODJBTZ
NPMFDVMBSFTNTPDNT&%5 DPFDJFOUFEFEJTQFSTJOBYJBMUSNJDBNJTNBTVOJEBEFTRVF&%FDVBDJO
&FGG DPFDJFOUFEFEJTQFSTJOBYJBMFGFDUJWBNJTNBTVOJEBEFTRVF&%FDVBDJO
' UBTBEFBMJNFOUBDJOWPMVNUSJDBQPSFKFNQMPNIDNNJOMJUSPIIQ DPFDJFOUFEFUSBOTGFSFODJBEFDBMPSFOMBQBSUDVMB+,TN
PVOJEBEFTTJNJMBSFT
IX DPFDJFOUFEFUSBOTGFSFODJBEFDBMPSFOMBQBSFE+LTNPVOJEBEFT
TJNJMBSFT)&51 BMUVSBEFVOQMBUPEFFRVJMJCSJPDNQMBUPFDVBDJOC
LG DPFDJFOUFEFUSBOTGFSFODJBEFNBTBFOQFMDVMBNTPDNTLND DPFDJFOUFEFUSBOTGFSFODJBEFNBTBFOQBSNFUSPBHSVQBEPDPOGVFS[B
JNQVMTPSBEFDPODFOUSBDJONTPDNTFDVBDJPOFTBZB
LNR DPFDJFOUFEFUSBOTGFSFODJBEFNBTBFOQBSNFUSPBHSVQBEPDPOGVFS[B
JNQVMTPSBEFDBOUJEBEBETPSCJEBNTPDNTFDVBDJPOFTCZC
,"# DPOTUBOUFEFFRVJMJCSJPEFBDDJOEFNBTBTQBSBJOUFSDBNCJPEFJPO
NPOPWBMFOUFJPONPOPWBMFOUFBEJNFOTJPOBMFDVBDJOB
,"D DPOTUBOUFEFFRVJMJCSJPEFBETPSDJOFOGVODJOEFDPODFOUSBDJO
VOJEBEFTDPODFOUSBDJO,JD DPOTUBOUFEFFRVJMJCSJPEFBETPSDJOMJOFBMJ[BEBFOGVODJOEF
DPODFOUSBDJONJTNBTVOJEBEFTRVFRDFDVBDJOC
,"P GBDUPSQSFFYQPOFODJBMFOMBFDVBDJOEF"SSIFOJVTFDVBDJOB
NJTNBTVOJEBEFTRVF,","Q DPOTUBOUFEFFRVJMJCSJPEFBETPSDJOFOGVODJOEFQSFTJOQBSDJBM
VOJEBEFTQSFTJO,"Q DPOTUBOUFEFFRVJMJCSJPEFBETPSDJOMJOFBMJ[BEBFOGVODJOEFQSFTJO
QBSDJBMVOJEBEFTNJTNBTRVFMBTEFR"Q"FDVBDJOC
,E QBSNFUSPEFFYDMVTJOQPSUBNBPBEJNFOTJPOBM,%# DPOTUBOUFEFFRVJMJCSJPEFBDDJOEFNBTBTQBSBJOUFSDBNCJPJOJDP
EJWBMFOUFNPOPWBMFOUFNJTNBTVOJEBEFTRVFMBTEFD5D35FDVBDJO
,%& GBDUPSEFFYDMVTJOEF%POOBOBEJNFOTJPOBM%FTQVTEFMBFDVBDJO
- MPOHJUVEEFFNQBDBNJFOUPFOMBDPMVNOBNPDN-.5; MPOHJUVEEFMB[POBEFUSBOTGFSFODJBEFNBTBHVSBNPDN. QFTPNPMFDVMBSEFTPMVUPNPMBSHHPNPMBSLHLH.J NVMUJQMJDBEPSFTFOMBTFDVBDJPOFT
BEJNFOTJPOBM/ ONFSPFRVJWBMFOUFEFQMBUPTFODSPNBUPHSBGBFDVBDJO
/1F ONFSPEF1FDMFUBEJNFOTJPOBMFDVBDJO
Q" QSFTJOQBSDJBMEFMBFTQFDJF"NN)HL1BVPUSBTVOJEBEFTEFQSFTJO
YYWJJJ /PNFODMBUVSB
-
QI QSFTJOBMUBNN)HL1BVPUSBTVOJEBEFTEFQSFTJOQ- QSFTJOCBKBNN)HL1BVPUSBTVOJEBEFTEFQSFTJO1F- ONFSPEF1FDMFUCBTBEPFOMPOHJUVEBEJNFOTJPOBMFDVBDJOB
R" DBOUJEBEBETPSCJEBEFMBFTQFDJF"LHLHEFBETPSCFOUFHNPMLHEF
BETPSCFOUFPLHMJUSPR"NY DBOUJEBENYJNBEFMBFTQFDJF"RVFTFQVFEFBETPSCFSLHLHEF
BETPSCFOUFHNPMLHEFBETPSCFOUFPLHMJUSPR' DBOUJEBEBETPSCJEBFOFRVJMJCSJPDPOMBDPODFOUSBDJOEFBMJNFOUBDJO
NJTNBTVOJEBEFTRVFR"fFf^
DBOUJEBEQSPNFEJPEFMBFTQFDJFJBETPSCJEBLHLHEFBETPSCFOUFHNPMLHEFBETPSCFOUFPLHMJUSP
RJ DBOUJEBEBETPSCJEBRVFFTUBSBFOFRVJMJCSJPDPOVJEPEFDPODFOUSBDJODJNJTNBTVOJEBEFTRVFR"
2 UBTBEFVKPWPMVNUSJDPNTMJUSPTNJOFUDSQ SBEJPEFQPSPNPDN3 SFTPMVDJOBEJNFOTJPOBMFDVBDJO
3 DPOTUBOUFEFMHBTQPSFKFNQMP3 b(EVbda@
3F ONFSPEF3FZOPMETBEJNFOTJPOBMFDVBDJO
4D ONFSPEF4DINJEUBEJNFOTJPOBMFDVBDJO
4I ONFSPEF4IFSXPPEBEJNFOTJPOBMFDVBDJO
U UJFNQPTFHVOEPTNJOVUPTVIPSBTUCS UJFNQPEFFTDBQFPBQBSJDJOUDFOUSP UJFNQPDFOUSBMEFQBVUBEFTBMJEBTEFDPMVNOBTNJOVIUFMVDJO UJFNQPEFFMVDJOTFHVOEPTNJOVUPTVIPSBTU'UBMJN UJFNQPEFBMJNFOUBDJOTFHVOEPTNJOVUPTVIPSBTU.5; UJFNQPEFMB[POBEFUSBOTGFSFODJBEFNBTBHVSBTFHVOEPT
NJOVUPTVIPSBTU3 UJFNQPEFSFUFODJOTFHVOEPTNJOVUPTVIPSBTUTX UJFNQPEFDBNCJPFO4.#TFHVOEPTNJOVUPTVIPSBT5 UFNQFSBUVSB$P,5BNC UFNQFSBUVSBBNCJFOUF$P,5T UFNQFSBUVSBEFMTMJEP$P,VJPOJ WFMPDJEBEEFMJPOJNTPDNTVT WFMPDJEBEQSPNFEJPEFMTPMVUPNTPDNTVmT WFMPDJEBEFTQSPNFEJPEFMTPMVUPQBSB"Z#DNTFDVBDJO
VTJPOJ WFMPDJEBEEFPOEBEJGVTBEFMJPOJNTPDNTVTI WFMPDJEBEEFMBPOEBEFDIPRVFNTPDNTVTIJPOJ WFMPDJEBEEFPOEBEFDIPRVFEFMJPOJNTPDNTVUI WFMPDJEBEEFMBPOEBUSNJDBNTPDNTVUPUBM@JPO WFMPDJEBEEFMBPOEBJOJDBUPUBMNTPDNT7"QSPE WFMPDJEBEJOUFSTUJDJBMEFMQSPEVDUP"TJFTUVWJFSBFOMBDPMVNOB
NTPDNTQSPEVDUP"F"D
W#QSPE WFMPDJEBEJOUFSTUJDJBMEFMQSPEVDUP#TJFTUVWJFSBFOMBDPMVNOB
NTPDNTQSPEVDUP#F"D
W% WFMPDJEBEJOUFSTUJDJBMEFMEFTPSCFOUFTJFTUVWJFSBFOMBDPMVNOB
NTPDNT%F"D
WBMJN WFMPDJEBEJOUFSTUJDJBMEFMBBMJNFOUBDJOTJFTUVWJFSBFOMBDPMVNOB
NTPDNT'F"D
WJOUFS WFMPDJEBEJOUFSTUJDJBMNTPDNTFDVBDJOC
WTVQFS WFMPDJEBETVQFSDJBMNTPDNTFDVBDJOB
/PNFODMBUVSB YYJY
-
7EJTQ WPMVNFOEJTQPOJCMFQBSBMBNPMDVMBNFDVBDJOD
7DPMVNOB WPMVNFOEFMBDPMVNOBN
7BMJN WPMVNFOEFMHBTBMJNFOUBEPN
7VJEP WPMVNFOEJTQPOJCMFQBSBFMVJEPNFDVBDJOB
7QVSHB WPMVNFOEFMHBTEFQVSHBN
X"X# BODIPEFMQJDPDSPNBUPHSDPTNJOVIPSBT8 QFTPEFMBDPMVNOBQPSVOJEBEEFMPOHJUVELHNY EFTWJBDJOEFMMVHBSEFMNYJNPQJDPBEJNFOTJPOBMFDVBDJO
YM EFTWJBDJOEFMMVHBSEFMNYJNPQJDPFOVOJEBEFTEFMPOHJUVEFDVBDJO
C
YU EFTWJBDJOEFMMVHBSEFMNYJNPQJDPFOVOJEBEFTEFUJFNQP
FDVBDJOB
Y GSBDDJOEFQFTPPNPMBSEFTPMVUPFOMRVJEPLHTPMVUPLHMRVJEPPLH
NPMTPMVUPLHNPMMRVJEPBEJNFOTJPOBMYJ DJD5GSBDDJOFRVJWBMFOUFEFMJPOFOTPMVDJOBEJNFOTJPOBM9FTDBQF[U TPMVDJOHFOFSBMEFFTDBQFEFDPMVNOBQBSBJTPUFSNBTMJOFBMFTJHVBMFT
VOJEBEFTRVFDFDVBDJO
Z GSBDDJOEFQFTPPNPMBSEFTPMVUPFOHBTLHTPMVUPLHEFHBTPLHNPM
TPMVUPLHNPMHBTBEJNFOTJPOBMZJ D3JD35GSBDDJOFRVJWBMFOUFEFMJPOFOMBSFTJOBBEJNFOTJPOBM[ EJTUBODJBBYJBMFOMBDPMVNOBNPDN
NFEJEBBQBSUJSEFMFYUSFNPDFSSBEPQBSBDMDVMPTEFDBNCJPEFQSFTJOFO14"
-FUSBTHSJFHBTGVFSUF SFMBDJOEFWFMPDJEBEFTEFMPTTPMVUPTGVFSUFZECJMFDVBDJO
BEJNFOTJPOBMD DBNCJPEFDPODFOUSBDJOEFTPMVUPNJTNBTVOJEBEFTRVFMBTEFD)BET DBMPSEFBETPSDJO+LHDBMHNPMFUDQ" DBNCJPEFQSFTJOQBSDJBML1BBUNFUDR DBNCJPFOMBDBOUJEBEBETPSCJEBLNPMLHBETPSCFOUFLHLHBETPSCFOUF
LNPMNPLHNU DBNCJPEFUJFNQPTNJOVI5G DBNCJPEFUFNQFSBUVSBEFMVJEP$P,[ JODSFNFOUPEFMPOHJUVEEFDPMVNOBN
SFMBDJOWPMVNUSJDBEFQVSHBBBMJNFOUBDJOFO14"BEJNFOTJPOBMFDVBDJO
F QPSPTJEBEFYUFSOBBEJNFOTJPOBMQ QPSPTJEBEJOUFSOBPEFMQPSPBEJNFOTJPOBM5 QPSPTJEBEUPUBMBEJNFOTJPOBMFDVBDJOC
rC EFOTJEBEEFMBETPSCFOUFBHSBOFMLHN
FDVBDJOC
rG EFOTJEBEEFMVJEPLHN
rmG EFOTJEBENPMBSEFMVJEPLHNPMN
rQ EFOTJEBEEFMBQBSUDVMBLHNFDVBDJOB
rT EFOTJEBEFTUSVDUVSBMEFMTMJEPLHN
s EFTWJBDJOFTUOEBSEFMQJDPDSPNBUPHSDPHBVTTJBOPFDVBDJO
sM EFTWJBDJOFTUOEBSFOVOJEBEFTEFMPOHJUVENPDNFDVBDJOC
sU EFTWJBDJOFTUOEBSFOVOJEBEFTEFUJFNQPNJOPTFDVBDJOB
UPSUVPTJEBEBEJNFOTJPOBMFDVBDJO
WBSJBCMFJOEJDBEPSBFOMBFDVBDJO
YYY /PNFODMBUVSB
-
$"156-0
*OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
*.1035"/$*"%&-"44&1"3"$*0/&4
y1PSRVMBJOHFOJFSBRVNJDBSFRVJFSFEFMFTUVEJPEFUDOJDBTEFTFQBSBDJO 1PSRVFMBTTFQBSBDJPOFTTPOGVOEBNFOUBMFTFOMBJOHFOJFSBRVNJDB6OBQMBOUBRVNJDBUQJDBFTVOSFBDUPSSPEFBEPQPSTFQBSBEPSFTUBMDPNPTFNVFTUSBFOFMEJBHSBNBEFVKPEFMBHVSB-BTNBUFSJBTQSJNBTTFQVSJDBOQSFWJBNFOUFFOEJTQPTJUJWPTEFTFQBSBDJOZTFBMJNFOUBOBMSFBDUPSRVNJDPMBBMJNFOUBDJORVFOPSFBDDJPOBTFTFQBSBEFMPTQSPEVDUPTEFSFBDDJOZTFSFDJSDVMBBMSFBDUPS-PTQSPEVDUPTTF TJHVFOTFQBSBOEPZQVSJDBOEPBOUFTEFQPEFSWFOEFSMPT&TUF UJQPEFBSSFHMPEFVOBQMBOUBRVNJDBFTNVZDPNO"MHVOPTFKFNQMPTEFQSPDFTPTUSBEJDJPOBMFTFTUO JMVTUSBEPTFO$PVQFSFUBM
4ISFWFZ"VTUJO
.BUBSZ)BUDI
5VSUPOFUBM
$IFOJFSZ4QFJHIU
NJFOUSBTRVFQSPDFTPTNTSFDJFOUFTBQBSFDFOFOMBSFWJTUB$IFNJDBM&OHJOFFSJOH%FNBOFSBHFOFSBMMBTQMBOUBTRVNJDBTTVFMFOEFTUJOBSEFBEFMPTDPTUPTEFDBQJUBMZEFPQFSBDJOFOQSPDFTPTEFTFQBSBDJO)VNQSFZZ,FMMFS
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
&MDPODFQUPEFFUBQBFOFRVJMJCSJPTFBQMJDBDVBOEPFMQSPDFTPQVFEFDPOTUSVJSTFDPNPVOBTFSJFEFFUBQBTEJTDSFUBTFOMBTRVFTFQPOFOFODPOUBDUPEPTGBTFTQBSBMVFHPTFQBSBSMBT4FTVQPOFRVFMBTEPTGBTFTRVFTFTFQBSBSPOFTUOFOFRVJMJCSJPFOUSFT1PSFKFNQMPFOMBEFTUJMBDJOTFQPOFOFODPOUBDUPVOWBQPSZVOMRVJEPTPCSFVOQMBUPNFUMJDPBHVKFSBEP"DBVTBEFMDPOUBDUPOUJNPFOUSFMBTEPTGBTFTQVFEFQBTBSTPMVUPEFVOBGBTFBPUSB"SSJCBEFMQMBUPFMWBQPSTFTFQBSBEFMMRVJEP5BOUPFMMRVJEPDPNPFMWBQPSTFQVFEFONBOEBSBNTFUBQBTQBSBBVNFOUBSMBTFQBSBDJO4VQPOJFOEP
-
$BQUVMP *OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
RVFMBTFUBQBTTFFODVFOUSBOFOFRVJMJCSJPFTQPTJCMFDBMDVMBSMBTDPODFOUSBDJPOFTZUFNQFSBUVSBTTJODPOPDFSFOGPSNBEFUBMMBEBMPTQBUSPOFTEFVKPZMBTUBTBTEFUSBOTGFSFODJBEFDBMPSZNBTB"VORVFFTUFFKFNQMPNVFTUSBMBBQMJDBDJOEFMNUPEPEFFUBQBTEFFRVJMJCSJPQBSBDPOTUSVJSFRVJQPTFOMPTRVFIBZBVOBTFSJFEFFUBQBTEJTDSFUBTWFSFNPTRVFUBNCJOFTQPTJCMFVUJMJ[BSMPQBSBFMEJTFPEFDPMVNOBTFNQBDBEBTEPOEFOPIBZFUBQBTEJTDSFUBT&TUFNUPEPFTVOBHSBOTJNQMJDBDJOQBSBFMEJTFPZBOMJTJTEFTFQBSBDJPOFTFOMBJOHFOJFSBRVNJDBZTFVTBSFOMPTDBQUVMPTB
6OTFHVOEPDPODFQUPUJMFTFMEFPQFSBDJOVOJUBSJB&OFTUFDBTPMBJEFBFTRVFBVORVFFMEJTFPFTQFDDPQVFEFWBSJBSEFBDVFSEPDPOMBTTVTUBODJBTRVFTFFTUOTFQBSBOEPMPTQSJODJQJPTCTJDPTEFEJTFPQBSBEFUFSNJOBEPNUPEPEFTFQBSBDJOTJFNQSFTPOMPTNJTNPT1PSFKFNQMPMPTQSJODJQJPTCTJDPTEFMBEFTUJMBDJOTJFNQSFTPOMPTNJTNPTTFBRVFFTUFNPTTFQBSBOEPFUBOPMEFBHVBPCJFOWBSJPTIJESPDBSCVSPTPNFUBMFTMRVJEPT&ODPOTFDVFODJBMBEFTUJMBDJOTFDPOTJEFSBDPNPVOBPQFSBDJOVOJUBSJBBMJHVBMRVFMBBCTPSDJOMBFYUSBDDJOFUD
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
&-$0/$&150%&&26*-*#3*0
-PTQSPDFTPTEFTFQBSBDJORVFFTUVEJBSFNPTFOMPTDBQUVMPTBTFCBTBOFOFMDPODFQUPEFFUBQBEFFRVJMJCSJPFMDVBMFTUBCMFDFRVFMBTDPSSJFOUFTRVFTBMFOEFVOBFUBQBFTUOFOFRVJMJCSJPy2VTFRVJFSFJOEJDBSDPOFRVJMJCSJP
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
Productos.Materiasprimas
Subproductos
Separadores
Reactor
Recirculacin
Separador
Separaciny
purificacin
'*(63" %*"(3"."%&'-6+051*$01"3"6/"1-"/5"26.*$"
-
OBEBTFIBEFUFOJEPFOFTDBMBNBDSPTDQJDBEPOEFTPMFNPTPCTFSWBSMPTQSPDFTPTZBOPIBZNTDBNCJPTFOUFNQFSBUVSBQSFTJOPDPNQPTJDJO
-BTDPOEJDJPOFTEFFRVJMJCSJPTFQVFEFOTVCEJWJEJSFOGPSNBDPOWFOJFOUFFOFRVJMJCSJPUSNJDPNFDOJDPZEFQPUFODJBMRVNJDP&OFRVJMJCSJPUSNJDPMBUSBOTGFSFODJBEFDBMPSDFTBZMBTUFNQFSBUVSBTEFMBTEPTGBTFTTPOJHVBMFT1PSMPUBOUPQBSBMPTDBTPTFOFTUFMJCSP
5MRVJEP5WBQPSFOFMFRVJMJCSJP
&OFRVJMJCSJPNFDOJDPMBTGVFS[BTFOUSFWBQPSZMRVJEPTFCBMBODFBO&OMPTQSPDFTPTEFTFQBSBDJODPOFUBQBTRVFFTUVEJBSFNPTFTUPTVFMFJNQMJDBSRVFMBTQSFTJPOFTTPOJHVBMFT"TQBSBMPTDBTPTRVFDPOUJFOFFTUFMJCSP
QMRVJEPQWBQPSFOFMFRVJMJCSJP
4JMBJOUFSGB[FOUSFMRVJEPZWBQPSFTDVSWBMBJHVBMEBEEFGVFS[BTOPJNQMJDBJHVBMEBEEFQSFTJPOFT&OFTUFDBTPTFQVFEFEFEVDJSMBFDVBDJOEF-BQMBDFQPSFKFNQMPDPOTVMUF-FWJDI
&OFMFRVJMJCSJPFOUSFGBTFTMBWFMPDJEBEDPOMBRVFTFFWBQPSBDBEBFTQFDJFFTFYBDUBNFOUFJHVBMBMBFWBQPSBDJODPOMBRVFTFDPOEFOTB"TOPIBZDBNCJPEFDPNQPTJDJOGSBDDJONPMFOMBHVSB4JOFNCBSHPFOHFOFSBMMBTDPNQPTJDJPOFTEFMMRVJEPZFMWBQPSOPTPOJHVBMFT4JMBTDPNQPTJDJPOFTGVFSBOJHVBMFTOPQPESBBMDBO[BSTFTFQBSBDJOBMHVOBFOQSPDFTPEFFRVJMJCSJPBMHVOP4JMBUFNQFSBUVSBZMBQSFTJOTPODPOTUBOUFTMBJHVBMEBEEFWFMPDJEBEFTEFFWBQPSBDJOZDPOEFOTBDJOSFRVJFSFORVFFOFMTJTUFNBIBZBVONOJNPEFFOFSHBMJCSF-BDPOEJDJOSFTVMUBOUFQBSBMPTFRVJMJCSJPTFOUSFGBTFTFT
QPUFODJBMRVNJDPMRVJEPQPUFODJBMRVNJDPWBQPS
&MEFTBSSPMMPEF MBFDVBDJO
JODMVZFOEPMBTEFOJDJPOFTZ MPTDPODFQUPTOFDFTBSJPTFTUFNBEFNVDIPT MJCSPTEFUFSNPEJONJDBQPSFKFNQMP4NJUIFUBM#BM[IJ[FSFUBM%FOCJHI&MMJPUZ-JSB8BMBT
QFSPFTUGVFSBEFMBMDBODFEFFTUFMJCSP4JOFNCBSHPMBFDVBDJOSFRVJFSFDJFSUBSFMBDJOFOUSFMBTDPNQPTJDJPOFTEFMMRVJEPZFMWBQPS&OMPTTJTUFNBTSFBMFTFTUBSFMBDJOQVFEFTFSNVZDPNQMFKBZQPESBSFRVFSJSTFEFEBUPTFYQFSJNFOUBMFT4VQPOESFNPTRVFTFDPOPDFOMPTEBUPTEFFRVJMJCSJPPMBTFDVBDJPOFTBEFDVBEBTDPOTVMUFFMDBQUVMP
ZDPOOBSFNPTOVFTUSBEFTDSJQDJOBMVTPEFMPTEBUPTEFFRVJMJCSJPFOFMEJTFPEFFRVJQPTEFTFQBSBDJO
PLquido, TLquido
PVapor, TVapor
'*(63" 4*45&."%&$0/5"$50&/53&7"103:-26*%0
&MDPODFQUPEFFRVJMJCSJP
-
$BQUVMP *OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
53"/4'&3&/$*"%&."4"
&OFMTJTUFNBEFDPOUBDUPWBQPSMRVJEPEFMBHVSBFMWBQPSZFMMRVJEPOPFTUBSOJOJDJBMNFOUFFOFRVJMJCSJP-BUSBOTGFSFODJBEFNBTBEFVOBBPUSBGBTFQVFEFBDFSDBSBMFRVJMJCSJP&OQBMBCSBTMBFDVBDJOCTJDBQBSBMBUSBOTGFSFODJBEFNBTBFT
7FMPDJEBEEFUSBOTGFSFODJBEFNBTBSFBDPFDJFOUFEFUSBOTGFSFODJBEFNBTB
GVFS[BJNQVMTPSB
&OFTUBFDVBDJO MBWFMPDJEBEEFUSBOTGFSFODJBEFNBTBUFOESFO GPSNBUQJDBVOJEBEFTDPNPLHNPMIPMCNPMI&MSFBFTMBTVQFSDJFBUSBWTEFMBRVFTFFGFDUBMBUSBOTGFSFODJBEFNBTBFONPQJF-BGVFS[BJNQVMTPSBFTMBEJGFSFODJBEFDPODFOUSBDJORVFQSPEVDFMBUSBOTGFSFODJBEFNBTB&TUBGVFS[BJNQVMTPSBTFQVFEFSFQSFTFOUBSDPNPVOBEJGFSFODJBFOGSBDDJPOFTNPMFOQSFTJPOFTQBSDJBMFTFODPODFOUSBDJPOFTFOLNPMMJUSPFUD&MWBMPSZMBTVOJEBEFTEFMDPFDJFOUFEFUSBOTGFSFODJBEFNBTBEFQFOEFOEFRVGVFS[BTJNQVMTPSBTTFTFMFDDJPOFO-PTEFUBMMFTTFEFTDSJCFOFOFMDBQUVMP
1BSBTFQBSBDJPOFTDPOFRVJMJCSJPFOFUBQBTFOFMDBTPJEFBMDBMDVMBSBNPTMBWFMPDJEBEEFUSBOTGFSFODJBEFNBTBDPOCBTFFOMBUSBOTGFSFODJBEFOUSPEFDBEBGBTFWBQPSZMRVJEPFOMBHVSBVTBOEPDPNPGVFS[BJNQVMTPSBMBEJGFSFODJBFOUSFMBDPODFOUSBDJOFOFMJOUFSJPSEFMVJEPZMBDPODFOUSBDJOFOMBJOUFSGB[$PNPFTPFTEJGDJMDPOGSFDVFODJBTFBEPQUBOWBSJBTIJQUFTJTEFTJNQMJDBDJODPOTVMUFMPTEFUBMMFTFOMBTFDDJO
ZTFVTBVOBGVFS[BJNQVMTPSBRVFFTMBEJGFSFODJBFOUSFMBDPODFOUSBDJOSFBMZMBDPODFOUSBDJORVFIBCSBTJTFBMDBO[BSBFMFRVJMJCSJP1PSFKFNQMPQBSBFMTJTUFNBEFMBHVSBFTUBOEPFYQSFTBEBTMBTDPODFOUSBDJPOFTFOGSBDDJONPMQPESBNPTVTBSMBTTJHVJFOUFTFDVBDJPOFTEFWFMPDJEBE
7FMPDJEBEWPMVNFO,ZBZ"Z" B
7FMPDJEBEWPMVNFO,YBY"Y" C
&OFTUBTFDVBDJPOFT,ZZ,YTPOMPTDPFDJFOUFTHMPCBMFTEFUSBOTGFSFODJBEFNBTBEFHBTZMRVJEPZ"FTMBGSBDDJONPMFOFMHBTFOFRVJMJCSJPDPOFMJOUFSJPSEFMMRVJEPDPOGSBDDJONPMFTY"Y"FTMBGSBDDJONPMFOFMMRVJEPFOFRVJMJCSJPDPOFMJOUFSJPSEFMHBTDVZBGSBDDJONPMFTZ"ZFMUSNJOPiBuJOEJDBFMSFBJOUFSGBDJBMQPSVOJEBEEFWPMVNFONNPQJFQJF
1PSEFOJDJOFOFMFRVJMJCSJPZ"Z"ZY"Y"0CTFSWFRVFDVBOEPZ" ZBZY" Y"MBTGVFS[BTJNQVMTPSBTFOMBTFDVBDJPOFTUJFOEFOBDFSPZMBTWFMPDJEBEFTEFUSBOTGFSFODJBEFNBTBEFDSFDFO1BSBBDFSDBSTFSB[POBCMFNFOUFBMFRVJMJCSJPFMNPEFMPTJNQMJDBEPRVFSFQSFTFOUBOMBTFDVBDJPOFTJOEJDBRVFTFOFDFTJUBOHSBOEFTWBMPSFTEF,ZZ,YZPEFiBu%FNBOFSBHFOFSBMMPTDPFDJFOUFTEFUSBOTGFSFODJBEFNBTBTFSONBZPSFTTJMBTEJGVTJWJEBEFTTPONBZPSFTMPDVBMTVDFEFDPOVJEPTEFCBKBWJTDPTJEBE%FCJEPBRVFMPTBVNFOUPTEFUFNQFSBUVSBEJTNJOVZFOMBWJTDPTJEBEFTGBWPSBCMFBVNFOUBSMBUFNQFSBUVSBNJFOUSBTOPEJTNJOVZBOFOGPSNBJNQPSUBOUFMBTEJGFSFODJBTEFDPODFOUSBDJOEFFRVJMJCSJPZMPTNBUFSJBMFTTFBOUSNJDBNFOUFFTUBCMFT5BNCJOBVNFOUBSOMBTWFMPDJEBEFTEFUSBOTGFSFODJBEFNBTBTJIBZNBZPSSFMBDJOEFSFBJOUFSGBDJBMWPMVNFOFOUSFFMHBTZFMMRVJEPNBZPSiBu&TUPTFQVFEFPCUFOFSDVBOEPIBZBVOBUVSCVMFODJBJOUFSGBDJBMBQSFDJBCMFPVTBOEPVONBUFSJBMEFFNQBRVFDPOVOBHSBOSFBTVQFSDJBMDPOTVMUFFMDBQUVMP
"VORVFFTUJMUFOFSDJFSUPTDPOPDJNJFOUPTEFMPRVFBGFDUBBMBUSBOTGFSFODJBEFNBTBOPOFDFTJUBNPTDPOPDFSMPTEFUBMMFTTJFNQSFRVFRVFSBNPTTVQPOFSRVFMBTFUBQBTFTUOFOFRVJMJCSJP1PSFMMPEFNPSBSFNPTMBEFTDSJQDJOEFMPTEFUBMMFTIBTUBOFDFTJUBSMPTFOMPTDBQUVMPTB
-
.50%041"3"3&40-7&3-04130#-&."4
1BSBBZVEBSBMMFDUPSBEFTBSSPMMBSTVDBQBDJEBEEFSFTPMWFSQSPCMFNBTFOFTUFMJCSPVTBSFNPTVOBFTUSBUFHJBFYQMDJUBRVFFTVOBNPEJDBDJOEFMBEFTBSSPMMBEBFOMB.D.BTUFS6OJWFSTJUZ8PPETFUBM-BTTJFUFFUBQBTEFFTUBFTUSBUFHJBTPO
2VJFSPZQVFEP %FOJSFMQSPCMFNB &YQMPSBSMPPNFEJUBSMP 1MBOFBS )BDFSMP $PNQSPCBSMP (FOFSBMJ[BS
&MQBTPFTEFNPUJWBDJOZDPOBO[B&TVOSFDPSEBUPSJPEFRVFVTUFEMMFHIBTUBBRVFOJOHFOJFSBRVNJDBQPSRVFQVFEFSFTPMWFSQSPCMFNBT.JFOUSBTNTEJGFSFOUFTTFBOMPTQSPCMFNBTRVFVTUFESFTVFMWBBERVJSJSVOBNBZPSIBCJMJEBEQBSBSFTPMWFSQSPCMFNBT3FDVFSEFRVFVTUFERVJFSFBQSFOEFSDNPSFTPMWFSQSPCMFNBTEFJOHFOJFSBRVNJDBZRVFMPQVFEFIBDFS
&OFMQBTPEFCFEFGJOJSFMQSPCMFNB"TFHSFTFEFDPNQSFOEFSDPODMBSJEBEUPEBTMBTQBMBCSBT%JCVKFFMTJTUFNBFJEFOUJRVFTVTQBSUFT)BHBVOBMJTUBEFUPEBTMBTWBSJBCMFTZSFTUSJDDJPOFTDPOPDJEBT%FTDSJCBRVTFMFQJEJIBDFSTJOPQVFEFEFOJSDPODMBSJEBEFMQSPCMFNBFTQSPCBCMFRVFOPQVFEBSFTPMWFSMP
&OFMQBTPVTUFEFYQMPSBZNFEJUBFMQSPCMFNB&OSFBMJEBEyRVTFQJEF y2VQSJODJQJPTCTJDPTEFCFBQMJDBS y1VFEFVTUFEMMFHBSBVOBTPMVDJOTJNQMFZMJNJUBOUFRVFTFSFMBDJPOFDPOMBTPMVDJOSFBM &MQSPCMFNByFTUFTQFDJDBEPEFDJFOUFPFYDFTJWBNFOUF %FKFRVFTVNFOUFKVFHVFDPOFMQSPCMFNBZMPNBTUJRVFZFOUPODFTSFHSFTFBMQBTPQBSBBTFHVSBSTFEFRVFUPEBWBFTUDPOTJEFSBOEPFMQSPCMFNBEFMBNJTNBNBOFSB4JOPFTBTSFWJTFFMFOVODJBEPEFMQSPCMFNBZDPOUJOF2VJFOFTUJFOFOFYQFSJFODJBFOTPMVDJOEFQSPCMFNBTTJFNQSFJODMVZFOVOBFUBQBEFFYQMPSBDJOBVORVFOPMBQMBOUFBOFOGPSNBFYQMDJUB
&OFMQBTPQBSB SFTPMWFSFMQSPCMFNBTFQMBOFB DNPTVCEJWJEJSMPZ TFEFDJEFRVQBSUFTBUBDBSQSJNFSP&TOFDFTBSJPTFMFDDJPOBSMBUFPSBZMPTQSJODJQJPTBEFDVBEPTBTDPNPMPTNUPEPTNBUFNUJDPT2VJFOSFTVFMWFFMQSPCMFNBBSNBMPTSFDVSTPTOFDFTBSJPTDPNPEBUPTQBQFMZDBMDVMBEPSB"MIBDFSMPQVFEFOTVSHJSOVFWPTTVCQSPCMFNBTTFFODVFOUSBVOPDPORVFOPIBZEBUPTTVDJFOUFTQBSBSFTPMWFSFMQSPCMFNB7VFMWBBSFDPSSFSMBTVDFTJOEFQBTPTEFTPMVDJOQBSBSFTPMWFSFTPTTVCQSPCMFNBT
&MQBTPIBDFSMPFTDPOGSFDVFODJBFMQSJNFSQBTPRVFEBORVJFOFTOPUJFOFOFYQFSJFODJB&OFTUFQBTPTFIBDFOMBTNBOJQVMBDJPOFTNBUFNUJDBTTFTVTUJUVZFOMPTONFSPTZTFHFOFSBVOBTPMVDJO4JTVQMBOGVFJODPNQMFUPQPESOPTFSDBQB[EFEBSFTUFQBTP&OFTUFDBTPSFHSFTFBMQBTPPBMQBTPEFFYQMPSBSPQMBOFBSZSFQJUBFMQSPDFTP
&OFMQBTPDPNQSVFCFTVSFTQVFTUBy&TEFMPSEFOEFNBHOJUVEDPSSFDUP 1PSFKFNQMPMBTDPMVNOBTEFEFTUJMBDJODPNFSDJBMFTOPTPOEFDFOUNFUSPTOJEFLJMNFUSPTEFBMUVSBy1BSFDFSB[POBCMF MB SFTQVFTUB y&WJUFSSPSFTDPNPTVTUJUVJSVOONFSPFRVJWPDBEPP UFDMFBSFSSOFBNFOUFFOMBDBMDVMBEPSB y)BZVONUPEPBMUFSOBUJWPEFTPMVDJORVFTJSWBDPNPVOBWFSJDBDJOJOEFQFOEJFOUFEFMBSFTQVFTUB 4JFODVFOUSBVTUFEFSSPSFTPJODPOTJTUFODJBTSFHSFTFBMQBTPDPSSFTQPOEJFOUFZSFTVFMWBEFOVFWPFMQSPCMFNB
&MMUJNPQBTPHFOFSBMJ[BSFTJNQPSUBOUFBVORVFTFTVFMFPNJUJS&OFTUFQBTPUSBUBSVTUFEEFBQSFOEFSUPEPMPQPTJCMFEFMQSPCMFNBy2VBQSFOEJVTUFEEFMBTJUVBDJOGTJDB y5VWPVOFGFDUP
.UPEPTQBSBSFTPMWFSMPTQSPCMFNBT
-
$BQUVMP *OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
JNQPSUBOUFMBJODMVTJOEFEFUFSNJOBEPGFONFOPPMPQPESBIBCFSQBTBEPQPSBMUP -BHFOFSBMJ[BDJOMFQFSNJUFBQSFOEFSZNFKPSBSTVEFTUSF[BQBSBSFTPMWFSQSPCMFNBT
"MQSJODJQJPiTFOUJSuCJFOMMFWBOEPBDBCPFTUPTQBTPT2VFSSVTUFESFCBTBSMPTZDPNFO[BSBDBMDVMBSFOMVHBSEFEFOJSDPODVJEBEPFMQSPCMFNBZBCSJSTFQBTPQPSFMQSPDFEJNJFOUP"DPTUNCSFTFBVTBSVONUPEPTJTUFNUJDPFOQSPCMFNBTEJGDJMFTGVODJPOBNVDIPNFKPSRVFFMNUPEPEFiDPNFO[BSBDBMDVMBSRVJ[SFTVMUFu.JFOUSBTNTVTFVTUFEFTUBPDVBMRVJFSPUSBFTUSBUFHJBNTTFGBNJMJBSJ[BSZNFOPTBSUJDJBMTFWPMWFSFMMB
&OFTUFMJCSPTFSFTVFMWFOMPTQSPCMFNBTEFFKFNQMPDPOFTUBFTUSBUFHJB1BSBFWJUBSSFQFUJSOPNFODJPOBSFMQBTPQFSPTJFNQSFFTUBSBMM-PTPUSPTTFJTQBTPTBQBSFDFSOZTFEFTBSSPMMBSOFOGPSNBFYQMDJUBOPSNBMNFOUF&OMPTFKFNQMPTNTTFODJMMPTBMHVOPTEFMPTQBTPTTFSONVZDPSUPTQFSPTJFNQSFFTUBSOQSFTFOUFT
3FDPNJFOEPNVDIPVTBSFTUBFTUSBUFHJBZFTDSJCJSDBEBQBTPDVBOEPVTUFEIBHBTVTQSPCMFNBTEFUBSFB"MBMBSHBFTUFNUPEPNFKPSBSTVDBQBDJEBEQBSBSFTPMWFSQSPCMFNBT
&TUJMVOBFTUSBUFHJBQBSBSFTPMWFSQSPCMFNBTQFSPyRVIBDFSDVBOEPRVFEBVOPBUPSBEP &OFTUFDBTPFTUJMMBIFVSTUJDBVODPOKVOUPEFiSFHMBTuGDJMFT6ONUPEPIFVSTUJDPFTVOPRVFBZVEBDPO GSFDVFODJB TJOFTUBSHBSBOUJ[BEBFTBBZVEB4FIBEFTBSSPMMBEPVOBHSBODBOUJEBEEFNUPEPTIFVSTUJDPTQBSBSFTPMWFSQSPCMFNBT1SFTFOUPVOBMJTUBEFEJF[8BOLBUZ0SFPWJD[RVFDPOGSFDVFODJBBZVEBOBMPTFTUVEJBOUFT
)FVSTUJDBQBSBSFTPMWFSQSPCMFNBT
5SBUFEFSFTPMWFSDBTPTTJNQMJDBEPT 3FMBDJPOFFMQSPCMFNBDPOVOPDVZPNUPEPEFSFTPMVDJODPOP[DB&TUBIFVSTUJDBFODBQTVMB
BVOPEFMPTQSJODJQBMFTNPUJWPTQBSBIBDFSUBSFBTFODBTB (FOFSBMJDFFMQSPCMFNB 5SBUFEFTVTUJUVJSONFSPTFTQFDDPT-BTIFVSTUJDBTZTFPQPOFOFOUSFT"WFDFTFTNT
GDJMWJTVBMJ[BSVODBNJOPEFTPMVDJOTJOUPEPTMPTEFUBMMFTZBWFDFTMPTEFUBMMFTBZVEBO 3FTVFMWBDPOSFMBDJPOFT$POGSFDVFODJBEFMPTQSPCMFNBTTFQVFEFOEFTQFKBSSFMBDJPOFTQFSP
OPIBZJOGPSNBDJOTVDJFOUFQBSBEFTQFKBSWBMPSFTJOEJWJEVBMFT )BHB MBTQBSUFTEFMQSPCMFNBRVFQVFEB SFTPMWFS&TUFNUPEPQVFEFEBS JOGPSNBDJORVF
QFSNJUBBVTUFESFTPMWFSQBSUFTRVFBOUFTOPQPEB #VTRVFJOGPSNBDJORVFOPIBZBVTBEP 5SBUFEFBEJWJOBSZDPNQSPCBS4JUJFOFVTUFECVFOPMGBUPMPQPESMMFWBSBMBSFTQVFTUBQFSPEFCFVTUFEWFSJDBSTVUBOUFP
)BHBVOBQBVTB/PSFOVODJFTJOPIBHBBMHVOBPUSBDPTBEVSBOUFVOSBUP&MSFHSFTBSBMQSPCMFNBMPQVFEFBZVEBSBWJTVBMJ[BSVODBNJOPEFTPMVDJO
1JEBVOQPDPEFBZVEBBBMHVJFO"DPOUJOVBDJOUFSNJOFFMQSPCMFNBVTUFETPMP
&TQSPCBCMFRVFEJF[SFHMBTIFVSTUJDBTTFBOEFNBTJBEBTQBSBFNQMFBSMBTDPOSFHVMBSJEBE4FMFDDJPOFDVBUSPPDJODPRVFMFBDPNPEFOZIBHBEFFMMBTQBSUFOPSNBMEFTVNUPEPEFTPMVDJOEFQSPCMFNBT4JEFTFBMFFSNTBDFSDBEFTPMVDJOEFQSPCMFNBTZIFVSTUJDBMFSFDPNJFOEP)PXUP.PEFM*U1SPCMFN4PMWJOHGPSUIF$PNQVUFS"HF4UBSFMEFUBM
-
13&33&26*4*504
/JOHOMJCSPEFJOHFOJFSBFYJTUFFOVODBNQPWBDPTJFNQSFTFSFRVJFSFBMHPEFNBUFSJBMQSFQBSBUPSJP&MQSJNFSQSFSSFRVJTJUPRVFDPOGSFDVFODJBTFPMWJEBFTRVFEFCFVTUFEQPEFSMFFSCJFO4JOPMFFVTUFECJFOPCUFOHBBZVEBEFJONFEJBUP
6OTFHVOEPDPOKVOUPEFQSFSSFRVJTJUPTBCBSDBDJFSUPTDPOPDJNJFOUPTNBUFNUJDPT/FDFTJUBSTFOUJSTFDNPEPDPOMHFCSBZ MBNBOJQVMBDJOEFFDVBDJPOFTQPSRVFFTBTEFTUSF[BTTFVTBOFOUPEPFM UFYUP0USPDPOPDJNJFOUPNBUFNUJDPOFDFTBSJPFTFMBOMJTJTHSDPQPSRVFNVDIPTEFMPTNUPEPTEFEJTFPTPOHSDPT/FDFTJUBSTFSDPNQFUFOUFZTFOUJSTFDNPEPBMUSB[BSHSDBTEFDVSWBTZSFDUBTZSFTPMWFSHSDBNFOUFFDVBDJPOFTTJNVMUOFBTBMHFCSBJDBT&OFMDBQUVMPTFSFRVJFSFFTUBSGBNJMJBSJ[BEPDPONBOJQVMBDJPOFTFYQPOFODJBMFTZMPHBSUNJDBT-PTOJDPTDBQUVMPTEPOEFTFSFRVJFSFFMDMDVMPTPOMPTZ
-BUFSDFSBSFBEFQSFSSFRVJTJUPTDPODJFSOFBCBMBODFTEFNBTBCBMBODFTEFFOFSHBZFRVJMJCSJPTEFGBTFT"VORVFMBCBTFEFMPTCBMBODFTEFNBTBZFOFSHBQVFEFBQSFOEFSTFFONVZDPSUPUJFNQPTFSFRVJFSFQSDUJDBQBSBVTBSMPTDPOGBDJMJEBE"TFTUFMJCSPFOFMDBTPOPSNBMWJFOFBOUFDFEJEPEFVODVSTPTPCSFCBMBODFTEFNBTBZFOFSHB"ZVEBDPOPDFSMBTJEFBTCTJDBTEFMFRVJMJCSJPEF GBTFT JODMVZFOEPFMDPODFQUPEFFRVJMJCSJP MBSFHMBEF MBT GBTFTEF(JCCT MPTDPFDJFOUFTEFEJTUSJCVDJOZFTUBSGBNJMJBSJ[BEPDPOSFQSFTFOUBDJPOFTHSDBTEFEBUPTEFFRVJMJCSJPZFMDPOPDJNJFOUPEFDPSSFMBDJPOFTFOUSFWBQPSZMRVJEP7-&EFWBQPSMJRVJEFRVJMJCSJVN
6ODVBSUPHSVQPEFQSFSSFRVJTJUPTFTFMEFMBEFTUSF[BQBSBSFTPMWFSQSPCMFNBT:BRVFFMJOHFOJFSPRVNJDPEFCFTFSCVFOPQBSBSFTPMWFSQSPCMFNBTFTJNQPSUBOUFEFTBSSPMMBSMBEFTUSF[BFOFTUFDBNQP-BDBQBDJEBEEFSFTPMWFSQSPCMFNBTFTQSFSSFRVJTJUPQBSBUPEPTMPTDVSTPTEFJOHFOJFSBRVNJDB
&OHFOFSBMMPTDBQUVMPTQPTUFSJPSFTEFQFOEFOEFMPTQSJNFSPTDPNPTFWFFOFMFTRVFNBEFMBHVSB/PTFSFRVJFSFOMPTDBQUVMPTZQBSBDPNQSFOEFSMPTDBQUVMPTQPTUF
1
2
3
4
5
6 7
8
9
10
11
12
13
1415
16 17
Paramatrices
'*(63" */5&3%&1&/%&/$*"%&-04$"156-04-"4-/&"4*/5&336.1*%"4*/%*$"/7/$6-04.4%#*-&4
1SFSSFRVJTJUPT
-
$BQUVMP *OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
SJPSFTZTFQVFEFOPNJUJSDVBOEPFMUJFNQPEFMDVSTPFTDPSUP-BHVSBFTUJMQBSBQMBOFBSFMPSEFOFOFMRVFTFFTUVEJBSOMPTUFNBTZQBSBBEBQUBSFTUFMJCSPQBSBOFTFTQFDJBMFT
053"4'6&/5&440#3&*/(&/*&3"%&130$&404%&4&1"3"$*/
$PNPMPTBMVNOPTUJFOFOEJTUJOUPTFTUJMPTEFBQSFOEJ[BKFOFDFTJUBSVTUFEBEBQUBSMBGPSNBFORVFVTFFTUFMJCSPBTVFTUJMPEFBQSFOEJ[BKF/BUVSBMNFOUFUFOESRVFIBDFSTFDBSHPEFTVBQSFOEJ[BKFZIBDFSMPQPSVTUFENJTNP4JMFJOUFSFTBFYQMPSBSTVFTUJMPEFBQSFOEJ[BKFVOCVFOMVHBSQBSBFNQF[BSFTFMOEJDFEF&TUJMPTEF"QSFOEJ[BKF*OEFYPG-FBSOJOH4UZMFT
EFTBSSPMMBEPQPS3JDIBSE.'FMEFSZ-JOEB,4MWFSNBO&TUFOEJDFTFDPOTJHVFTJODPTUPFO*OUFSOFUFOXXXODTVFEVGFMEFSQVCMJD*-4QBHFIUNM5BNCJOQVFEFVTUFECVTDBSMBQBMBCSBi'FMEFSuDPOVONPUPSEFCTRVFEBDPNP(PPHMF
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iQSPDFTPTEFTFQBSBDJOuDPODVBMRVJFSBEFMPTNPUPSFTEFCTRVFEBNTQPQVMBSFT
5"#-" #*#-*0(3"'"$0.&/5"%"%&'6&/5&440#3&*/(&/*&3"%&130$&404%&4&1"3"$*/
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
-
3&46.&/m0#+&5*704
)FNPTFYQMPSBEPBMHVOBTEFMBTSB[POFTQBSBFTUVEJBSTFQBSBDJPOFTZBMHVOPTEFMPTNUPEPTRVFVTBSFNPT&OFTUFQVOUPEFCFSBVTUFETFSDBQB[EFIBDFSMPTJHVJFOUF
&YQMJDBSDNPTFVTBOMBTTFQBSBDJPOFTFOVOBQMBOUBRVNJDBUQJDB %FOJSMPTDPODFQUPTEFFUBQBTEFFRVJMJCSJPZPQFSBDJPOFTVOJUBSJBT &YQMJDBSRVRVJFSFEFDJSFRVJMJCSJPEFGBTFT )BDFSVOBMJTUBEFMBTFUBQBTEFMNUPEPFTUSVDUVSBEPQBSBSFTPMWFSQSPCMFNBTZDPNFO[BSB
VTBSFTUFNUPEP 5FOFSDJFSUBGBNJMJBSJEBEDPOMPTQSFSSFRVJTJUPT
/PUB&OMPTDBQUVMPTQPTUFSJPSFTQPESSFHSFTBSQSJNFSPBMBTFDDJO3FTVNFO0CKFUJWPTQBSBBZVEBSTFBWJTVBMJ[BSIBDJBEOEFWB"DPOUJOVBDJODVBOEPIBZBUFSNJOBEPFMDBQUVMPMBTFDDJOEF3FTVNFOm0CKFUJWPTMFQPESBZVEBSBEFDJEJSTJMMFH
3&'&3&/$*"4
#BM[IJTFS3&.34BNVFMTZ+%&MJBTTFO$IFNJDBM&OHJOFFSJOH5IFSNPEZOBNJDT5IF4UVEZPG&OFSHZ&OUSPQZBOE&RVJMJCSJVN1SFOUJDF)BMM6QQFS4BEEMF3JWFS/+$IFNJFS1+4VSWFZPG*OEVTUSJBM$IFNJTUSZ4QSJOHFS7FSMBH#FSMJO$PVQFS+3831FOOFZ+3'BJSZ4.8BMBT$IFNJDBM1SPDFTT&RVJQNFOU4FMFDUJPOBOE%FTJHOTFHVOEBFEJDJO&MTFWJFS"NTUFSEBN%FOCJHI,5IF1SJODJQMFTPG$IFNJDBM&RVJMJCSJVNDVBSUBFEJDJO$BNCSJEHF6OJWFSTJUZ1SFTT$BNCSJEHF*OHMBUFSSB
5"#-" #*#-*0(3"'"$0.&/5"%"%&'6&/5&440#3&*/(&/*&3"%&130$&404%&4&1"3"$*/ $0/5*/6"$*/
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
3FGFSFODJBT
-
$BQUVMP *OUSPEVDDJOBMBJOHFOJFSBEFQSPDFTPTEFTFQBSBDJO
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i5FBDIJOH1SPCMFN4PMWJOH4LJMMTu&OHJOFFSJOH&EVDBUJPO
EJDJFNCSFEF
5"3&"
" 1SPCMFNBTQBSBEJTDVTJO " $POTVMUFVOBTPMVDJOBDFSUBEBRVFIBZBEBEPBVOQSPCMFNBQBSUJDVMBSNFOUFEJGDJMFOVOP
EFTVTDVSTPTUDOJDPTBOUFSJPSFTEFQSFGFSFODJBEFJOHFOJFSBRVNJDB$POTVMUFFTUBTPMVDJOQFSPEFTEFFMQVOUPEFWJTUBEFMQSPDFTPRVFVTQBSBSFTPMWFSMPZOPEFMPTEFUBMMFTUDOJDPTy4JHVJVTUFEVONUPEPFTUSVDUVSBEP -BNBZPSBOPMPIBDFBMBQSJNFSB"MOBMyMMFWBDBCPMBNBZPSQBSUFEFMPTQBTPTRVFTFJOEJDBO -POPSNBMFTRVFMPTQBTPTEFGJOJSFYQMPSBSQMBOFBSZIBDFSMPTFMMFWFOBDBCPFOBMHONPNFOUPEVSBOUFMBTPMVDJO0SEFOFTVTPMVDJOQBSBRVFFTPTQBTPTFTUOFOPSEFOy7FSJDTVTPMVDJO 4JOPMPIJ[PIHBMPBIPSB1PSMUJNPUSBUFEFHFOFSBMJ[BSTVTPMVDJO
" 4JODPOTVMUBSFMMJCSPDPOUFTUFMPTJHVJFOUFB %FOBRVFTVOBPQFSBDJOVOJUBSJBZEFTDSJCBBMHVOPTFKFNQMPTC y$VMFTFMDPODFQUPEFFUBQBEFFRVJMJCSJP D y$VMFTTPOMPTQBTPTEFMNUPEPTJTUFNUJDPQBSBSFTPMWFSQSPCMFNBT &YQMJRVFDBEB
QBTPDPOTVTQSPQJBTQBMBCSBT " y$VNQMFVTUFEMPTQSFSSFRVJTJUPT 4JOPFTBTyQVFEFSFNFEJBSFTUBTJUVBDJO " 'PSNFVOBUBCMBEFVOBQHJOBPNFOPTDPOMBTSFMBDJPOFTDMBWFQBSBFTUFDBQUVMP6OB
UBCMBEFSFMBDJPOFTDMBWFFTVOSFTVNFOEFUPEPMPRVFOFDFTJUBQBSBSFTPMWFSMPTQSPCMFNBTPDPOUFTUBSMBTQSFHVOUBTEFMDBQUVMP&OHFOFSBMUFOESFDVBDJPOFTFTRVFNBTZQBMBCSBTDMBWF0SHBODFMBBTVHVTUP&MPCKFUJWPFTGPS[BSBMBNFOUFBPSHBOJ[BSBDUJWBNFOUFFMNBUFSJBM&TPMPBZVEBSNVDIPBSFDPSEBSFMNBUFSJBM
# (FOFSBDJOEFBMUFSOBUJWBT # )BHBVOBMJTUBEFUPEPTMPTQSPEVDUPTRVFQVFEBZMBGPSNBFORVFTFQVSJDBOPTFTFQBSBO
7BZBBVOHSBOTVQFSNFSDBEPZWFBBMHVOPTEFMPTQSPEVDUPTQBSBFMIPHBSy$VOUPTEF
-
FMMPTQPESBVTUFETFQBSBS "MOBMEFFTUFDVSTPTBCSDNPQVSJDBSMBNBZPSQBSUFEFMPTQSPEVDUPTMRVJEPT
$ %FSJWBEBT $ &TDSJCBMPTCBMBODFTEFNBTBZFOFSHBFOGPSNBHFOFSBMQBSBFMTFQBSBEPSRVFNVFTUSBMB
HVSB4JTFMFEJDVMUBSFQBTFVOMJCSPTPCSFCBMBODFTEFNBTBZFOFSHB
% 1SPCMFNBT /PIBZQSPCMFNBTQBSBFTUFDBQUVMP
& 1SPCMFNBTDPNQMFKPT /PIBZQSPCMFNBTQBSBFTUFDBQUVMP
' 1SPCMFNBTVTBOEPPUSBTGVFOUFT ' #VTRVFFOWBSJPTONFSPTSFDJFOUFTEFMBSFWJTUB$IFNJDBM&OHJOFFSJOHZFODVFOUSFVOBS
UDVMPRVFDPOUFOHBVOEJBHSBNBEFQSPDFTP-FBFMBSUDVMPZFTDSJCBVOBSFTFBDPSUBEFNFOPTEFVOBQHJOB$PNFOUFFOGPSNBFYQMDJUBTJFMEJBHSBNBEFMQSPDFTPTFBKVTUBBMNFOPTBQSPYJNBEBNFOUFBMEJBHSBNBHFOFSBMEFVKPRVFNVFTUSBMBHVSB
( 1SPCMFNBTQBSBTJNVMBEPS /PIBZQSPCMFNBTQBSBTJNVMBEPSFOFTUFDBQUVMP
5BSFB
-
$"156-0
%FTUJMBDJOJOTUBOUOFB
.50%0#4*$0%&%&45*-"$*/*/45"/5/&"
6OPEFMPTQSPDFTPTEFTFQBSBDJONTTJNQMFTZDPNVOFTFTMBEFTUJMBDJOQPSFWBQPSBDJOJOTUBOUOFBEFTUJMBDJOJOTUBOUOFBEFTUJMBDJOEFFRVJMJCSJPPEFTUJMBDJOGMBTI&OFTUFQSPDFTPQBSUFEFVOBDPSSJFOUFEFBMJNFOUBDJOTFFWBQPSBFOVOBDNBSBEFFWBQPSBDJOJOTUBOUOFBQBSBTFQBSBSWBQPSZMRVJEPFOFRVJMJCSJPNVUVP&MDPNQPOFOUFNTWPMUJMTFDPODFOUSBSNTFOFMWBQPS&OHFOFSBMFTUFNUPEPOPQFSNJUFBMDBO[BSVOBMUPHSBEPEFTFQBSBDJOTJOFNCBSHPFOBMHVOPTDBTPTDPNPFMEFMBEFTBMBDJOEFBHVBEFNBSTFPCUJFOFVOBTFQBSBDJODPNQMFUB
&MFRVJQPOFDFTBSJPQBSBMBEFTUJMBDJOJOTUBOUOFBTFWFFOMBHVSB&MMRVJEPTFTPNFUFBQSFTJOTFDBMJFOUBZTFIBDFQBTBSQPSVOBWMWVMBEFDPOUSPMPVOBCPRVJMMBQBSBFOUSBSBMUBNCPSPUBORVFEFFWBQPSBDJOJOTUBOUOFB%FCJEPBMBHSBODBEBEFQSFTJOQBSUFEFMMRVJEPTFFWBQPSB&MWBQPSTFFYUSBFQPSMBQBSUFTVQFSJPSNJFOUSBTRVFFMMRVJEPFTDVSSFBMGPOEPEFMUBNCPSEFEPOEFTFSFUJSB$POGSFDVFODJBTFFNQMFBVOTFQBSBEPSEFOJFCMBEFNJTUFSPFMJNJOBEPSEFBSSBTUSFQBSBFWJUBSRVFFMWBQPSDPOUFOHBHPUJUBTEFMRVJEP&MTJTUFNBTFDPOPDFDPNPEFTUJMBDJOiJOTUBOUOFBuQPSRVFBMFOUSBSMBBMJNFOUBDJOBMUBNCPSMBFWBQPSBDJOFTFYUSFNBEBNFOUFSQJEB%FCJEPBMDPOUBDUPOUJNPFOUSFFMMRVJEPZFMWBQPSFMTJTUFNBFOMBDNBSBEFEFTUJMBDJOFTUNVZDFSDBOPBVOBFUBQBEFFRVJMJCSJP-BHVSBNVFTUSBVOUBNCPSWFSUJDBMEFFWBQPSBDJOJOTUBOUOFBBVORVFUBNCJOTPOGSFDVFOUFTMPTUBNCPSFTIPSJ[POUBMFT
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
&MEJTFBEPSUJFOFTFJTHSBEPTEFMJCFSUBEQBSBUSBCBKBSFOFMDBTPEFVOBTFQBSBDJOCJOBSJB&OHFOFSBMMBTFTQFDJDBDJPOFTEFMBBMJNFOUBDJOPSJHJOBMPDVQBODVBUSPEFFTPTHSBEPTEFMJCFSUBE
-
.UPEPCTJDPEFEFTUJMBDJOJOTUBOUOFB
'MVKPEFBMJNFOUBDJO'$PNQPTJDJOEFMBBMJNFOUBDJO[GSBDDJONPMEFMDPNQPOFOUFNTWPMUJM
5FNQFSBUVSB51SFTJOQ
%FMPTSFTUBOUFTFMEJTFBEPSOPSNBMNFOUFTFMFDDJPOB
1SFTJOEFMUBNCPSQUBNC1BSBDVNQMJSDPOFMMUJNPHSBEPEFMJCFSUBETFEJTQPOFEFBMHVOBTPUSBTWBSJBCMFT
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
4VQPOESFNPTRVFFMUBNCPSEFEFTUJMBDJOEFMBHVSBGVODJPOBDPNPVOBFUBQBEFFRVJMJCSJP&OUPODFTFMWBQPSZFMMRVJEPFTUOFOFRVJMJCSJP1BSBVOTJTUFNBCJOBSJPMBGSBDDJONPMEFMDPNQPOFOUFNTWPMUJMFOFMWBQPSZTVGSBDDJONPMFOFMMRVJEPYZ5UBNCQVFEFOEFUFSNJOBSTFBQBSUJSEFMBTFDVBDJPOFTEFFRVJMJCSJP
ZZWYQUBNC
5UBNC5YQUBNC
1BSBVTBSMBTFDVBDJPOFTZFOFMEJTFPEFTJTUFNBTCJOBSJPTEFFWBQPSBDJOJOTUBOUOFBEFCFNPTUPNBSVOBUBKPZEFTDSJCJSQSJNFSPFMFRVJMJCSJPCJOBSJPWBQPSMRVJEP&7-
'*(63" 4*45&."%&%&45*-"$*/*/45"/5/&"
Alimentacin
Bomba Calentador Vlvula
Separadorde niebla
Ttamb
PtambQH
F, zTl, p l
V, yHV
L, xhL
TFPFhF
-
$BQUVMP %FTUJMBDJOJOTUBOUOFB
'03.":'6&/5&4%&-04%"504%&&26*-*#3*0
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
4JPCUVWJSBNPTNFEJDJPOFTEFFRVJMJCSJPQBSBVOBNF[DMBCJOBSJBEFFUBOPMZBHVBBBUNHFOFSBSBNPTEBUPTTFNFKBOUFTBMPTRVFNVFTUSBMBUBCMB3FDVFSEFRVFMBTGSBDDJPOFTNPMEFDBEBGBTFEFCFOTVNBS"TQBSBFTUFTJTUFNBCJOBSJP
Y&Y8 Z&Z8
5"#-" %"504%&&26*-*#3*07"103-26*%01"3"&5"/0-:"(6"""5.9::&/'3"$$*0/&4.0-"3&4
Y&UPI YX Z&UPI ZX 5$
3)1FSSZ$)$IJMUPOZ40,JSLQBUSJDLFEJUPSFT
$IFNJDBM&OHJOFFST)BOECPPLFEJDJO/FX:PSL.D(SBX)JMM1H
-
EPOEFYFTMBGSBDDJONPMFOFMMRVJEPZZFTMBGSBDDJONPMFOFMWBQPS$POGSFDVFODJBTMPTFEBSDPNPEBUPMBDPNQPTJDJOEFMDPNQPOFOUFNTWPMUJMFUBOPMFOFTUFDBTPZBRVFMBGSBDDJONPMEFMDPNQPOFOUFNFOPTWPMUJMTFQVFEFDBMDVMBSDPOMBTFDVBDJPOFT
&MFRVJMJCSJPEFQFOEFEFMBQSFTJOMPTEBUPTEFMBUBCMBTPOBBUN-BUBCMBTMPFTVOBGVFOUFEFEBUPTEFFRVJMJCSJPQBSBFMTJTUFNBFUBOPMBHVBZNTEFVOBEPDFOBEFFTUVEJPTIBOFYQMPSBEPFTUFTJTUFNB8BOLBU MPTEBUPTFTUODPOUFOJEPTFOMBTSFGFSFODJBTHFOFSBMFTRVFBQBSFDFOFOMBUBCMB-PTEBUPTFOMBTEJWFSTBTSFGFSFODJBTOPDPODVFSEBOBMBQFSGFDDJOZTFEFCFUFOFSDVJEBEP
5"#-" '6&/5&4%&%"504%&&26*-*#3*07"103-26*%0
$IV+$3+(FUUZ-'#SFOOFDLFZ31BVMEJTUJMMBUJPO&RVJMJCSJVN%BUB3FJOIPME/FX:PSL&OHJOFFSJOH%BUB#PPL/BUVSBM(BTPMJOF4VQQMZ.FOT"TTPDJBUJPO,FOOFEZ#MEH5VMTB0LMBIPNB)BMB&*8JDIUFSMF+1PMBLZ5#PVCMJL7BQPS-JRVJEP&RVJMJCSJVN%BUBBU/PSNBM1SFTTVSFT1FSHBNPO/FX:PSL)BMB&+1JDLZ07JMJN7BQPS-JRVJE&RVJMJCSJVNFEJDJOFEJDJOFOJOHMT1FSHBNPO/FX:PSL)PSTFMZ-)"[FPUSPQJD%BUB"$4"EWBODFTJO$IFNJTUSZ/P"NFSJDBO$IFNJDBM4PDJFUZ8BTIJOHUPO%$)PSTFMZ-)"[FPUSPQJD%BUB**
"$4"EWBODFTJO$IFNJTUSZ/P"NFSJDBO$IFNJDBM4PDJFUZ8BTIJOHUPO%$(FTT."31%POOFSZ./BHWFLBS5IFSNPEZOBNJD"OBMZTJTPG7BQPS-JRVJE&RVJMJCSJB3FDPNNFOEFE.PEFMTBOEB4UBOEBSE%BUB#BTF%*113"*$I&/FX:PSL(NFIMJOH++.FODLF+,SBGD[ZLZ,'JTDIFS"[FPUSPQJD%BUB7$)8FJOIFJN"MFNBOJB(NFIMJOH+60OLFO8"SMU1(SFO[IFVTFS68FJEMJDI#,PMCF+33BSFZ/JFT%&$)&."$IFNJTUSZ%UB4FSJFT7PM*7BQPS-JRVJE&RVJMJCSJVN%BUB$PMMFDUJPO%&$)&."'SBOLGVSU.BJO
"MFNBOJB.BYXFMM+#%BUB#PPLPO)ZESPDBSCPOT7BO/PTUSBOE1SJODFUPO/FX+FSTFZ1FSSZ3)Z(SFFO%FEJUPSFT
1FSSZT$IFNJDBM&OHJOFFST)BOECPPLFEJDJO.D(SBX)JMM/FX:PSL1SBVTOJU[+."OEFSTPO5'(SFOT&"&DLFSU$")TJFI3Z0$POOFMM+1$PNQVUFS$BMDVMBUJPOTGPS.VMUJDPNQPOFOU7BQPS-JRVJEBOE-JRVJE-JRVJE&RVJMJCSJB1SFOUJDF)BMM6QQFS4BEEMF3JWFS/+4UFQIBO,Z))JMEXFJO%&$)&."$IFNJTUSZ%BUB4FSJFT7PM*73FDPNNFOEFE%BUBPG4FMFDUFE$PNQPVOETBOE#JOBSZ.JYUVSFT%&$)&."'SBOLGVSUNBJO
"MFNBOJB5JNNFSNBOT+5IF1IZTJDP$IFNJDBM$POTUBOUTPG#JOBSZ4ZTUFNTJO$PODFOUSBUFE4PMVUJPOTWPMNFOFT*OUFSTDJFODF/FX:PSL7BO8JOLMF.%JTUJMMBUJPO.D(SBX)JMM/FX:PSL8JDIUFSMF*+-JOFLZ&)BMB7BQPS-JRVJE&RVJMJCSJVN%BUB#JCMJPHSBQIZ&MTFWJFS"NTUFSEBN
'PSNBZGVFOUFTEFMPTEBUPTEFFRVJMJCSJP
-
$BQUVMP %FTUJMBDJOJOTUBOUOFB
QBSBFMFHJSEBUPTCVFOPT"TQVFTOPTSFGFSJSFNPTDPOGSFDVFODJBBFTUPTZPUSPTEBUPT4JUJFOFEJDVMUBEFOFODPOUSBSMPTWFBFMOEJDFFOFUBOPMBHVBEBUPT
&OMBUBCMBQPEFNPTWFSRVFTJTFKBOMBQSFTJOZMBUFNQFSBUVSBTMPIBZVOBDPNQPTJDJOQPTJCMFQBSBFMFUBOPMFOFMWBQPSZ&UPIZVOBDPNQPTJDJOQPTJCMFQBSBFMMRVJEPY&UPI1PSMPUBOUPOPFTQPTJCMFKBSEFNBOFSBBSCJUSBSJBUPEBTMBTWBSJBCMFTRVFRVJTJSBNPT1PSFKFNQMPBBUNOPQPEFNPTEFDJEJSRVFEFTFBNPTRVFFMWBQPSZFMMRVJEPFTUOFOFRVJMJCSJPB$ZRVFY&UPI
-BDBOUJEBEEFWBSJBCMFTRVFQVFEFOFTQFDJDBSTFFOGPSNBBSCJUSBSJBTFDPOPDFDPNPHSBEPTEFMJCFSUBEZTFEFUFSNJOBSFTUBOEPMBDBOUJEBEEFFDVBDJPOFTUFSNPEJONJDBTEFFRVJMJCSJPEFMBDBOUJEBEEFWBSJBCMFT1BSBTJTUFNBTTJOSFBDDJORVNJDBMBSFHMBEFMBTGBTFTEF(JCCTRVFSFTVMUBFT
'$1
EPOEF'HSBEPTEFMJCFSUBE$DBOUJEBEEFDPNQPOFOUFTZ1ONFSPEFGBTFT1BSBFMTJTUFNBCJOBSJPEFMBUBCMB$FUBOPMZBHVB
1WBQPSZMRVJEP&OUPODFT
'
$VBOEPTFKBOQSFTJOZUFNQFSBUVSBTFVTBOZBUPEPTMPTHSBEPTEFMJCFSUBEZFOFMFRVJMJCSJPUPEBTMBTDPNQPTJDJPOFTTFEFUFSNJOBOBQBSUJSEFMFYQFSJNFOUP&OGPSNBBMUFSOBUJWBQPESBNPTKBSMBQSFTJOZY&UPIPYYZEFUFSNJOBSMBUFNQFSBUVSBZMBTEFNTGSBDDJPOFTNPMBSFT
-BDBOUJEBEEFNBUFSJBMZTVUBTBEFVKPOPFTUODPOUSPMBEBTQPSMBSFHMBEFMBTGBTFTEF(JCCT-BSFHMBEFMBTGBTFTTFSFFSFBWBSJBCMFTJOUFOTJWBTDPNPQSFTJOUFNQFSBUVSBPGSBDDJONPMRVFOPEFQFOEFOEFMBDBOUJEBEUPUBMEFNBUFSJBMQSFTFOUF-BTWBSJBCMFTFYUFOTJWBTDPNPDBOUJEBEEFNPMFTUBTBEFVKPZWPMVNFOTEFQFOEFOEFMBDBOUJEBEEFNBUFSJBMZOPTFJODMVZFOFOMPTHSBEPTEFMJCFSUBE&OUPODFTVOBNF[DMBEFFUBOPMBHVBFOFRVJMJCSJPEFCFBQFHBSTFBMPTEBUPTEFMBUBCMBTFBRVFUFOHBNPTPNPMFT
-PTTJTUFNBTCJOBSJPTDPOTMPEPTHSBEPTEFMJCFSUBETFQVFEFOSFQSFTFOUBSFOGPSNBUBCVMBSPHSDBNBOUFOJFOEPDPOTUBOUFVOBWBSJBCMFMBQSFTJOQPSMPHFOFSBM&YJTUFOEBUPTEFFRVJMJCSJPWBQPSMRVJEPQBSBNVDIPTTJTUFNBTCJOBSJPT-BTGVFOUFTEFFTPTEBUPTBQBSFDFOFOMBUBCMBFTSFDPNFOEBCMFRVFTFGBNJMJBSJDFDPOBMHVOBTEFFMMBT/PUFRVFMPTEBUPTOPTPOEFJHVBMDBMJEBE#BSOJDLJ
8BMVTZ7BO/FTTZ"CCPUUQHTEFTDSJCFODPOEFUBMMFMPTNUPEPTQBSBJOWFTUJHBSMBDPOTJTUFODJBUFSNPEJONJDBEFMPTEBUPTEFFRVJMJCSJP-PTFSSPSFTFOEBUPTEFFRVJMJCSJPQVFEFODBVTBSVOFGFDUPJNQPSUBOUFFOFMEJTFPEFMNUPEPEFTFQBSBDJODPOTVMUFQPSFKFNQMP/FMTPOFUBMP$BSMTPO
3&13&4&/5"$*/(3'*$"%&-&26*-*#3*0#*/"3*07"103-26*%0
-PTEBUPTEFFRVJMJCSJPCJOBSJPWBQPSMRVJEPTFQVFEFOSFQSFTFOUBSHSDBNFOUFEFEJWFSTBTNBOFSBTMBTNTBEFDVBEBTTPOEJBHSBNBTUFNQFSBUVSBDPNQPTJDJOZYZFOUBMQBDPNQPTJDJO5PEBTSFQSFTFOUBOMPTNJTNPTEBUPTZTFQVFEFODPOWFSUJSEFVOBGPSNBBPUSB
-BUBCMBNVFTUSBEBUPTEFFRVJMJCSJPQBSBFUBOPMZBHVBBBUNTGFSB"QSFTJOKBSFTUBTMPVOHSBEPEFMJCFSUBE%FFTFNPEPQPEFNPTTFMFDDJPOBSDVBMRVJFSBEFMBTWBSJBCMFTJOUFOTJWBTDPNPWBSJBCMFJOEFQFOEJFOUFZHSBDBSDVBMRVJFSPUSBWBSJBCMFJOUFOTJWBDPNPWBSJBCMFEFQFOEJFOUF-BHSDBNTTFODJMMBFTMBEFZFOGVODJOEFYZYPZWTYRVFMBHVSBNVFTUSB&OGPSNBUQJDBHSBDBSFNPTMBGSBDDJONPMEFMDPNQPOFOUFNTWPMUJMFMDPNQPOFOUFRVFUJFOFZYFOFTUFDBTPFMFUBOPM"FTUBHSDBTFMFDPOPDFUBNCJODPNPEJBHSBNBEF.D$BCF5IJFMF-BQSFTJO
-
FTDPOTUBOUFQFSPMBUFNQFSBUVSBFTEJGFSFOUFFODBEBQVOUPEFMBDVSWBEFFRVJMJCSJP-PTQVOUPTEFMBDVSWBEFFRVJMJCSJPSFQSFTFOUBOEPTGBTFTFOFRVJMJCSJP$VBMRVJFSQVOUPRVFOPFTUFOMBDVSWBSFQSFTFOUBVOTJTUFNBRVFQVFEFUFOFSMRVJEPZWBQPSBMNJTNPUJFNQPQFSPTJOFTUBSFOFRVJMJCSJP$PNPWFSFNPTEFTQVTMPTEJBHSBNBTZYTPOFYUSFNBEBNFOUFDNPEPTQBSBIBDFSDMDVMPT
-PTEBUPTEFMBUBCMBUBNCJOTFQVFEFOHSBDBSFOVOEJBHSBNBUFNQFSBUVSBDPNQPTJDJODPNPTFNVFTUSBFOMBHVSB&MSFTVMUBEPFTFOSFBMJEBEEPTHSDBTVOBEFUFNQFSBUVSBEFMRVJEPFOGVODJOEFY&UPIZMBPUSBEFUFNQFSBUVSBEFWBQPSFOGVODJOEFZ&UPI&TUBTDVSWBTTFMMBNBOMOFBTEFMRVJEPTBUVSBEPZEFWBQPSTBUVSBEPQPSRVFSFQSFTFOUBOUPEPTMPTTJTUFNBTQPTJCMFT
'*(63" %*"(3"."%&:&/'6/$*/%&91"3"&5"/0-"(6"
'*(63" %*"(3"."5&.1&3"563"$0.104*$*/1"3"&5"/0-"(6"
3FQSFTFOUBDJOHSGJDBEFMFRVJMJCSJPCJOBSJPWBQPSMRVJEP
Azetropo
p = l atm
xE
yE
Isoterma
Vapor
Lquido
TC
Azetropo
p = l atm
xE o yE
-
$BQUVMP %FTUJMBDJOJOTUBOUOFB
EFMRVJEPZWBQPSRVFQVFEFOFTUBSFOFRVJMJCSJPBBUN$VBMRVJFSQVOUPBCBKPEFMBDVSWBEFMRVJEPTBUVSBEPSFQSFTFOUBVOMRVJEPTVCFOGSJBEPMRVJEPQPSEFCBKPEFTVQVOUPEFFCVMMJDJO
NJFOUSBTRVFDVBMRVJFSQVOUPBSSJCBEFMBDVSWBEFWBQPSTBUVSBEPTFSBVOWBQPSTPCSFDBMFOUBEP-PTQVOUPTFOUSFMBTEPTDVSWBTEFTBUVSBDJOSFQSFTFOUBOBDPSSJFOUFTGPSNBEBTQPSMRVJEPZWBQPSBMNJTNPUJFNQP4JTFEFKBOTFQBSBSFTBTDPSSJFOUFTQSPEVDJSOVOMRVJEPZVOWBQPSFOFRVJMJCSJP&MMRVJEPZFMWBQPSFOFRVJMJCSJPEFCFOFTUBSBMBNJTNBUFNQFSBUVSBQPSDPOTJHVJFOUFFTBTDPSSJFOUFTFTUBSOVOJEBTQPSVOBJTPUFSNBIPSJ[POUBMDPNPTFWFFOMBHVSBQBSBY&UPI
6OEJBHSBNBEFFOUBMQBDPNQPTJDJOPEF1PODIPO4BWBSJUDPOUJFOFNTJOGPSNBDJODPNPTFWFQBSBFMDBTPEFFUBOPMZBHVBFOMBHVSB0CTFSWFRVFMBTVOJEBEFTFOMBHVSBTPOEJTUJOUBTBMBTEFMBHVSB5BNCJOBRVIBZSFBMNFOUFEPTHSDBTVOBQBSBFMMRVJEPZVOBQBSBFMWBQPS-BTJTPUFSNBTRVFNVFTUSBMBHVSBJOEJDBOFMDBNCJPEFFOUBMQBBUFNQFSBUVSBDPOTUBOUFBNFEJEBRVFWBSBMBGSBDDJOFOQFTP$PNPFMMRVJEPZFMWBQPSFOFRVJMJCSJPEFCFOFTUBSBMBNJTNBUFNQFSBUVSBFTPTQVOUPTFTUOVOJEPTQPSVOBJTPUFSNB-PTQVOUPTFOUSFMBTDVSWBTEFMRVJEPZWBQPSTBUVSBEPTSFQSFTFOUBOTJTUFNBTEFEPTGBTFT1VFEFHFOFSBSTFVOBJTPUFSNBRVFQBTBQPSDVBMRVJFSQVOUPVTBOEPMBMOFBBVYJMJBSDPOMBDPOTUSVDDJORVFNVFTUSBMBHVSB1BSBEFUFSNJOBSVOBJTPUFSNBTFSFDPSSFWFSUJDBMNFOUFEFTEFMBDVSWBEFMRVJEPTBUVSBEPIBTUBMBMOFBBVYJMJBSFOUPODFTTFSFDPSSFIPSJ[POUBMNFOUFIBTUBMBMOFBEFWBQPSTBUVSBEP-BMOFBRVFVOFBMPTQVOUPT
Lnea de roco, 1 kg/cm2
Enta
lpa
, K c
al/k
g
Isote
rma
de v
nculo
Com
posi
cin
azeo
trp
ica
Lnea de ebullicin, 1 Kg/cm2Agua0 C
Lnea de congelacin
Lquido
Concentracin de alcohol, fraccin en peso
SlidoHielo0 C
Lnea auxiliar para composiciones de equilibrio interpolar
'*(63" %*"(3"."%&&/5"-1"$0.104*$*/1"3"&-4*45&."&5"/0-"(6""-"13&4*/%&,($.#04/+",07*$5&$)/*4$)&5)&3.0%:/".*,545&*/,01''-&*1;*(
-
FOMBTDVSWBTEFWBQPSTBUVSBEPZMRVJEPTBUVSBEPFTMBJTPUFSNB4JTFEFTFBRVFVOBJTPUFSNBQBTFQPSVOQVOUPFOMBSFHJOEFEPTGBTFTTFSFRVJFSFVOQSPDFEJNJFOUPTFODJMMPEFQSVFCBZFSSPS
5BNCJO FT QPTJCMF HFOFSBS JTPUFSNBT FO FM EJBHSBNB EF FOUBMQBDPNQPTJDJO B QBSUJS EFEJBHSBNBTZYZUFNQFSBUVSBDPNQPTJDJO$PNPFTPTEJBHSBNBTSFQSFTFOUBOMPTNJTNPTEBUPTMBDPNQPTJDJOEFMWBQPSFOFRVJMJCSJPDPOEFUFSNJOBEBDPNQPTJDJOEFMRVJEPTFQVFEFEFUFSNJOBSBQBSUJSZBTFBEFMBHSDBZYPUFNQFSBUVSBDPNQPTJDJOZFMWBMPSTFUSBOTFSFBMEJBHSBNBEFFOUBMQBDPNQPTJDJO&TUFQSPDFEJNJFOUPUBNCJOTFQVFEFIBDFSFOGPSNBHSDBDPNPNVFTUSBMBHVSBTJMBTVOJEBEFTTPOJHVBMFTFOUPEBTMBTHVSBT&OMBHVSBBTFQVFEFQBSUJSEFMQVOUP"ZUSB[BSVOBWFSUJDBMIBTUBFMQVOUP" WBMPSDPOTUBOUFEFY"UFNQFSBUVSBDPOTUBOUFTFQVFEFEFUFSNJOBSMBDPNQPTJDJOEFWBQPSFOFRVJMJCSJPQVOUP# 4JHVJFOEPMBMOFBWFSUJDBMZDPOTUBOUFTFMMFHBIBTUBFMQVOUP#MBJTPUFSNBVOFBMPTQVOUPT"Z#6OQSPDFEJNJFOUPTJNJMBSTFVTBFOMBHVSBCQFSPBIPSBMBMOFBZYTFEFCFVTBSFOMBHSDBEF.D$BCF5IJFMF&TPFTOFDFTBSJPQPSRVFMPTQVOUPT"Z#FOFRVJMJCSJPBQBSFDFODPNPVOTPMPQVOUP" # FOMBHSDBZY-BMOFBZYOPTQFSNJUFDPOWFSUJSFMWBMPSEFMBPSEFOBEBZFOFMEJBHSBNBZYFOVOWBMPSEFBCTDJTBUBNCJOZFOFMEJBHSBNBEFFOUBMQBDPNQPTJDJO"TFMQSPDFEJNJFOUPFTQBSUJSEFMQVOUP"ZTVCJSIBTUBFMQVOUP" # FOMBHSDBZYEFTQVTTFDPOUJOBIPSJ[POUBMNFOUFTPCSFMBMOFBZYZQPSMUJNPIBZRVFCBKBSWFSUJDBMNFOUFIBTUBFMQVOUP#FOMBDVSWBEFMWBQPS"TMBJTPUFSNBVOFBMPTQVOUPT"Z#
-PTEBUPTQSFTFOUBEPTFOMBUBCMBFJMVTUSBEPTFOMBTHVSBTZNVFTUSBORVFIBZVOB[FUSPQPEFQVOUPEFFCVMMJDJONOJNPQPSFKFNQMPDVBOEPFMMRVJEPZFMWBQPSUJFOFOFYBDUBNFOUFMBNJTNBDPNQPTJDJOBVOBGSBDDJONPMBSEFFUBOPMJHVBMBTUFTFQVFEFEFUFSNJOBSFOMBHVSBUSB[BOEPMBMOFBZYIBTUBDPSUBSMBDVSWBEFFRVJMJCSJP&OMBHVSBMBTDVSWBTEFMRVJEPZWBQPSTBUVSBEPTFUPDBONJFOUSBTRVFFOMBHVSBMBJTPUFSNBFTWFSUJDBMFOFMB[FUSPQP0CTFSWFRVFMBDPNQPTJDJOB[FPUSQJDBFTEJTUJOUBEFTEFMBQFSTQFDUJWBOVNSJDBFOMBHVSBQFSPFOMBSFBMJEBEFTFTFODJBMNFOUFMBNJTNBQPSRVFMBHVSBFTUFOGSBDDJOEFQFTPNJFOUSBTRVFMBTEFNTHVSBTFTUOFOGSBDDJONPM"CBKPEFMBDPNQPTJDJOB[FPUSQJDBFMFUBOPMFTFMDPNQPOFOUFNTWPMUJMBSSJCBEFFMMBFMFUBOPMFTFMDPNQPOFOUFNFOPTWPMUJM&MTJTUFNBTFMMBNBB[FUSPQPEFQVOUPEFFCVMMJDJONOJNPQPSRVFIJFSWFB$FTEFDJSBNFOPSUFNQFSBUVSBRVFMBEFFCVMMJDJOEFMFUBOPMQVSPPEFMBHVBQVSB-BQPTJDJOEFMB[FUSPQPFTGVODJOEFMBQSFTJO1PSEFCBKPEFNN)HOPFYJTUFB[FUSPQPQBSBMBNF[DMBFUBOPMBHVB-PTB[FUSPQPTEFQVOUPEFFCVMMJDJONYJNPBVORVFTPOSBSPTUBNCJOFYJTUFOWFBMBHVSB4MPFMEJBHSBNBEFUFNQFSBUVSBDPNQPTJDJOFTFMRVFTFWFBQSFDJBCMFNFOUFEJGFSFOUF0USPUJQPEFB[FUSPQPTFQSFTFOUBDVBOEPIBZEPTGBTFTMRVJEBTQBSDJBMNFOUFNJTDJCMFTTUPTTFEFTDSJCFOFOFMDBQUVMP
'*(63" 640%&-"-/&""69*-*"3
3FQSFTFOUBDJOHSGJDBEFMFRVJMJCSJPCJOBSJPWBQPSMRVJEP
Vaporsaturado
Lneaauxiliar
Isoterma
Lquidosaturado
-
$BQUVMP %FTUJMBDJOJOTUBOUOFB
Lneade unin
Lneade unin
'*(63" 53";"%0%&*405&3."4&/&-%*"(3"."&/5"-1"$0.104*$*/""1"35*3%&-%*"(3"."5&.1&3"563"$0.104*$*/#"1"35*3%&-%*"(3".":9
'*(63" 4*45&."";&0531*$0%&--*$*/.9*."
-
%&45*-"$*/*/45"/5/&"#*/"3*"
"IPSBVTBSFNPTMPTEBUPTEFFRVJMJCSJPCJOBSJPQBSBEFTBSSPMMBSQSPDFEJNJFOUPTHSDPTZBOBMUJDPTDPOFMOEFSFTPMWFSMBTFDVBDJPOFTDPNCJOBEBTEFFRVJMJCSJPCBMBODFEFNBTBZCBMBODFEFFOFSHB-PTCBMBODFTEFNBTBZFOFSHBTFFTDSJCFODPOVOBMOFBEJTDPOUJOVBQBSBMBDBKBEFCBMBODFRVFTFNVFTUSBFOMBHVSB1BSBVOTJTUFNBCJOBSJPFYJTUFOEPTCBMBODFTEFNBTBJOEFQFOEJFOUFTFMQSPDFEJNJFOUPOPSNBMFTVTBSFMCBMBODFHFOFSBMEFNBTB
'7-
ZFMCBMBODFQBSBFMDPNQPOFOUFNTWPMUJM
'[7Z-Y
&MCBMBODFEFFOFSHBFT
'I'27)W-I-
EPOEFI')WZI-TPOMBTFOUBMQBTEFMBTDPSSJFOUFTEFBMJNFOUBDJOEFWBQPSZEFMRVJEP/PSNBMNFOUF2ZBRVFFMUBNCPSEFEFTUJMBDJOFTUBJTMBEPZTFDPOTJEFSBRVFMBFWBQPSBDJOJOTUBOUOFBFTBEJBCUJDB
1BSBVTBSMBTFDVBDJPOFTEFCBMBODFEFFOFSHBOFDFTJUBNPTDPOPDFSMBTFOUBMQBT4VGPSNBHFOFSBMFT
I'I'5'[
)W)W5UBNCZI-I-5UBNCY
1BSBTJTUFNBTCJOBSJPTDPOWJFOFDPOGSFDVFODJBSFQSFTFOUBSHSDBNFOUFMBTGVODJPOFTEFFOUBMQBFOVOEJBHSBNBFOUBMQBDPNQPTJDJODPNPFMEFMBHVSB1BSBNF[DMBTJEFBMFTMBTFOUBMQBTTFQVFEFODBMDVMBSBQBSUJSEFMBTDBQBDJEBEFTDBMPSDBTZMPTDBMPSFTMBUFOUFT&OFTFDBTP
I-5YY"$1-"55SFGY#$1-#55SFG B
I'5'[["$Q-"5'5SFG[#$1-#5'5SFG C
)W5ZZ"< "$17"55SFG>Z#< #$17#55SFG>
EPOEFY"ZZ"TPOMBTGSBDDJPOFTNPMEFMDPNQPOFOUF"FOFMMRVJEPZFMWBQPSSFTQFDUJWBNFOUF$QFTMBDBQBDJEBEDBMPSDBNPMBS5SFGFTMBUFNQFSBUVSBEFSFGFSFODJBRVFTFIBZBFTDPHJEPZ FTFMDBMPSMBUFOUFEFFWBQPSBDJOBMB5SFG1BSBTJTUFNBTCJOBSJPTY#Y"ZZ#Z"
1SPDFEJNJFOUPTFDVFODJBMEFTPMVDJO
&OFMQSPDFEJNJFOUPTFDVFODJBMEFTPMVDJOQSJNFSPTFSFTVFMWFOMBTSFMBDJPOFTEFCBMBODFEFNBTBZEFFRVJMJCSJPZEFTQVTMBTFDVBDJPOFTEFCBMBODFEFFOFSHBZEFFOUBMQB&OPUSBTQBMBCSBTMPTEPTDPOKVOUPTEFFDVBDJPOFTFTUOEFTBDPQMBEPT&MQSPDFEJNJFOUPTFDVFODJBMEFTPMVDJOTFBQMJDB
%FTUJMBDJOJOTUBOUOFBCJOBSJB
-
$BQUVMP %FTUJMBDJOJOTUBOUOFB
DVBOEPTFVTBFMMUJNPHSBEPEFMJCFSUBEQBSBFTQFDJDBSVOBWBSJBCMFSFMBDJPOBEBDPOMBTDPOEJDJPOFTEFMUBNCPSEFEFTUJMBDJO-BTPQDJPOFTQPTJCMFTTPO
'SBDDJONPMFOWBQPSZ'SBDDJONPMFOMRVJEPY'SBDDJOFWBQPSBEBEFMBBMJNFOUBDJOG7''SBDDJOEFMBBMJNFOUBDJOFOFMMRVJEPSFNBOFOUFR-'5FNQFSBUVSBEFMUBNCPSEFEFTUJMBDJO5UBNC
4JTFFTQFDJDBVOBEFMBTDPOEJDJPOFTEFFRVJMJCSJPZYP5UBNCFOUPODFTTFQVFEFOEFUFSNJOBSMBTPUSBTEPTDPOMBTFDVBDJPOFTP
PCJFODPOMBSFQSFTFOUBDJOHSDBEFMPTEBUPTEFFRVJMJCSJP1PSFKFNQMPTJTFFTQFDJDBZYTFPCUJFOFDPOMBFDVBDJO
Z5UBNCDPOMBFDVBDJO&OMPTCBMBODFTEFNBTBFDVBDJPOFTZ
MBTOJDBTJODHOJUBTTPO-Z7ZMBTEPTFDVBDJPOFTQVFEFOSFTPMWFSTFFOGPSNBTJNVMUOFB
4JTFFTQFDJDBMBGSBDDJOFWBQPSBEBP MBGSBDDJOEFM MRVJEPSFNBOFOUFTFEFCFOSFTPMWFSTJNVMUOFBNFOUFMBTFDVBDJPOFT
Z-BGPSNBNTDNPEBEFIBDFSMPFTDPNCJOBSMPTCBMBODFTEFNBTB"MEFTQFKBSZEFMBFDVBDJOSFTVMUB
-BFDVBDJOFTMBFDVBDJOEFPQFSBDJORVFQBSBVOTJTUFNBEFVOBTPMBFUBQBSFMBDJPOBMBTDPNQPTJDJPOFTEFMBTEPTDPSSJFOUFTRVFTBMFOEFMBFUBQB-BFDVBDJOTFQVFEFFYQSFTBSFOUSNJOPTEFMBGSBDDJOFWBQPSBEBG7'PEFMBGSBDDJOEFMMRVJEPSFNBOFOUFR-'
%FBDVFSEPDPOFMCBMBODFHFOFSBMEFNBTBFDVBDJO
&OUPODFTMBFDVBDJOEFPQFSBDJOTFUSBOTGPSNBFO
-BBMUFSOBUJWBFOUSNJOPTEF-'FT
ZMBFDVBDJOEFPQFSBDJOFT
"VORVFDPOEJGFSFOUFGPSNBMBTFDVBDJPOFT
ZTPONUPEPTFRVJWBMFOUFTQBSBPCUFOFSZYP[6TBSFNPTFOUPODFTMBFDVBDJOEFPQFSBDJORVFTFBNTDPOWFOJFOUF
-
"IPSBTFEFCFOSFTPMWFSTJNVMUOFBNFOUFMBFDVBDJOEFFRVJMJCSJPZMBFDVBDJOEFPQFSBDJOFDVBDJPOFTP-BGPSNBFYBDUBEFIBDFSMPEFQFOEFEFMBGPSNBEFMPTEBUPTEFFRVJMJCSJP1BSBTJTUFNBTCJOBSJPTVOBTPMVDJOHSDBFTNVZDNPEB-BTFDVBDJPOFT
ZSFQSFTFOUBOVOBTPMBMOFBSFDUBMMBNBEBMOFBEFPQFSBDJOFOVOBHSDBEFZFOGVODJOEFY&TUBMOFBSFDUBUFOES
Z
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
0USPTEPTQVOUPTRVFTFVTBODPOGSFDVFODJBFOFMEJBHSBNBEF.D$BCF5IJFMFTPOMBBCTDJTBBMPSJHFOZEFMBMOFBEFPQFSBDJOZTVJOUFSTFDDJODPOMBSFDUBZY$VBMRVJFSBEFFTPTQVOUPTUBNCJOTFQVFEFEFUFSNJOBSBMHFCSBJDBNFOUFQBSBFOUPODFTHSBDBSDPOFMMPTMBMOFBEFPQFSBDJO
lnea de operacinpendiente = L/V
'*(63" %*"(3"."%&.$$"#&5)*&-&1"3"%&45*-"$*/*/45"/5/&"#*/"3*"4&*-6453"1"3"&-&+&.1-0
%FTUJMBDJOJOTUBOUOFBCJOBSJB