Evonik Completes Acquisition of Thai Peroxide Co., Ltd.

Evonik, a world-leading peroxides producer, has recently announced its full acquisition of the former joint venture, Thai Peroxide Company Limited (TPL), located in Saraburi, Thailand. The acquisition, which was finalized on December 15, 2023, marks Evonik's strategic move to expand its specialty-grade hydrogen peroxide and peracetic acid portfolio in the fast-growing Asia Pacific market. This development is in line with the commitment of Evonik's Active Oxygens business line to specialize in innovative applications and cater to the changing needs of various sectors.

TPL, a prominent regional provider of specialty hydrogen peroxide and peracetic acid, plays an indispensable role in a broad range of applications. These include microchip production, solar cell manufacturing, water treatment, and food safety. Now fully owned by Evonik, the company generates annual sales in the mid-double-digit million-euro range.

Prior to this acquisition, TPL was a joint venture between PeroxyChem and Aditya Birla Group. Evonik took over PeroxyChem in February 2020, initially gaining a 50% stake in TPL before moving to complete ownership.

Lauren Kjeldsen, the head of Evonik's Smart Materials division, underscored how TPL's expertise aligns with Evonik's mission of providing customized solutions for present and future challenges. Kjeldsen stressed the significance of clean and sustainable chemistries, particularly in high-demand applications like electronics where microchips are fundamental, and hydrogen peroxide plays a key role in their manufacture.

Claus Rettig, Evonik’s Regional President for Asia Pacific, voiced his enthusiasm about capitalizing on TPL's robust and experienced management team, along with their leading technologies and application expertise. He highlighted the expectation of fortifying Evonik's specialty business in the Asia Pacific region through the valuable knowledge of TPL's team.

Hydrogen peroxide and peracetic acid, both notable products in TPL's catalogue, are powerful oxidizers with a wide array of industrial applications. Significantly, these substances decompose into biodegradable components after use, making them a more environmentally friendly choice compared to other chemistries. Beyond this positive environmental impact, the Active Oxygens business line, which now includes TPL, is actively implementing an extensive sustainability roadmap. This initiative aims to nullify the environmental footprint associated with its production network, further solidifying Evonik's commitment to responsible and sustainable business practices in the chemical industry.

Evonik's complete acquisition of TPL is a strategic step towards expanding its specialty-grade hydrogen peroxide and peracetic acid offerings in the rapidly growing Asia Pacific market. By leveraging TPL's expertise and leading technologies, Evonik aims to reinforce its position in the specialty business sector and continue to provide innovative, sustainable solutions for various industries.