● Evonik acquires all shares of the original joint venture, Thailand Peroxide Co., Ltd. (TPL), achieving full control
● This acquisition will strengthen Evonik’s hydrogen peroxide and peracetic acid specialty products business in the Asia-Pacific region
● Special grade peroxide products can be used in microchip production, solar cell manufacturing, wastewater treatment, food safety and other fields
Evonik announced that it will wholly own the original joint venture Thailand Peroxide Co., Ltd. (TPL) located in Saraburi, Thailand. As the world’s leading peroxide manufacturer, Evonik aims to expand the business scale of specialty-grade hydrogen peroxide and peracetic acid products in the region through this acquisition to meet the rapidly growing market demand in the Asia-Pacific region. This move will also consolidate the strategic focus of the active oxides business line and focus on specialty products for future applications. The acquisition was completed on December 15.
TPL is a leading regional supplier of specialty hydrogen peroxide and peracetic acid. Its products are widely used in microchip production, solar cell manufacturing, water treatment, food safety and other fields. The company’s annual sales are approximately 50 million euros. Since Evonik acquired PeroxyChem in February 2020, TPL has been owned by Evonik and Aditya
Birla Group holds shares respectively.
Lauren, Head of Evonik’s Intelligent Materials Business Unit
Kjeldsen said: “TPL’s expertise is highly aligned with Evonik’s goals and will help us create customized solutions for today’s and future challenges, such as providing clean, sustainable chemicals for high-demand applications. Electronics is one example. : Globally, the demand for microchips is growing, and the production of microchips requires hydrogen peroxide.”
Dr. Lei Tiexi, President of Evonik Asia Pacific, said: “TPL has a strong and experienced management team that is good at applying advanced technology and application expertise. The valuable expertise of this team will help strengthen Evonik’s special expertise in the Asia Pacific region. Chemicals business, we’re looking forward to that.”
Michael, Head of Evonik’s Active Oxide Business Line
Träxler said: “We are very much looking forward to the synergy between our colleagues at TPL and our colleagues in the Asia-Pacific region. When we acquired PeroxyChem in 2020, our purpose was to consolidate the strategic focus of the active oxides business line, focus on specialty products, be close to customers and help Sustainable development. Now, the addition of TPL enables us to further strengthen the execution of our established strategies, including the unified implementation of sustainable development strategies at all production sites.”
Hydrogen peroxide and peracetic acid, as strong oxidants, have great application value in various industrial industries. Peroxide breaks down into biodegradable components after use, making it more environmentally friendly than other chemicals. In addition to the sustainable benefits of the products themselves, Evonik’s Active Oxides business line is further reducing the environmental footprint of its production processes by implementing a specific sustainability roadmap.
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