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Former joint venture taken over fully after purchase of 50% share from Aditya Birla Group entities and others.
January 10, 2024
By: David Savastano
Editor, Ink World Magazine
Evonik has announced the full takeover of former joint venture Thai Peroxide Company Limited (TPL), located in Saraburi, Thailand. With the acquisition, which closed on Dec. 15, 2023, the global peroxides producer is expanding its offer of specialty-grade hydrogen peroxide and peracetic acid in the fast-growing Asia Pacific market. The move supports Evonik’s Active Oxygens business line in pursuing its strategic focus on specialties for future-forward applications. TPL is a major regional supplier of specialty hydrogen peroxide and peracetic acid for applications ranging from microchip production and solar cell manufacture to water treatment and food safety. The company generates annual sales in the mid-double-digit million-euro range. Previously, TPL had been a joint venture between PeroxyChem and Aditya Birla Group until Evonik purchased PeroxyChem in February 2020. Evonik then held a 50% share in TPL before fully taking over. “TPL’s expertise aligns precisely with Evonik’s aim to offer tailor-made solutions to address current and future challenges,” said Lauren Kjeldsen, head of Evonik’s Smart Materials division. “These include providing clean, sustainable chemistries for highly in-demand applications. Electronics are an important example: The world needs microchips, and microchips need hydrogen peroxide to be produced.” “TPL has a strong, experienced management team, using leading technologies and application know-how,” added Claus Rettig, Evonik’s Asia Pacific regional president “We are very much looking forward to strengthening the Evonik specialty business in Asia Pacific through the valuable expertise of this team.” Hydrogen peroxide and peracetic acid are powerful oxidizers that are valuable across a variety of industrial applications. Yet after use, they break down into biodegradable components, and thus are more environmentally benign compared to alternative chemistries. In addition to this beneficial handprint, Active Oxygens is implementing a concrete sustainability roadmap to eliminate the footprint of its production network.
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