January 8, 2024
(press release)
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Hanau, Germany. 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 15 December, 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.” Evonik’s Asia Pacific regional president Claus Rettig remarked, “TPL has a strong, experienced management team, using leading technologies and application know-how. We are very much looking forward to strengthening the Evonik specialty business in Asia Pacific through the valuable expertise of this team.” “At Active Oxygens, we are especially excited about building synergies between the TPL staff and our colleagues in the region,” pointed out Michael Träxler, head of the Active Oxygens business line. “When we purchased PeroxyChem in 2020, it was with an eye to intensifying Active Oxygens’ strategic focus on specialties, customer proximity, and sustainability. Bringing TPL now fully into the business line enables us to continue that trajectory, including the integration of our sustainability strategy across all production sites.” 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. For more information on Evonik Active Oxygens, visit: evonik.com/activeoxygens Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €18.5 billion and an operating profit (adjusted EBITDA) of €2.49 billion in 2022. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. About 34,000 employees work together for a common purpose: We want to improve life today and tomorrow. In so far as forecasts or expectations are expressed in this IR News or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this IR News.
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