Evonik Industries acquired Thai Peroxide Company Limited (TPL), situated in Saraburi, Thailand. The acquisition marks a strategic move by the global peroxides producer to expand its portfolio of specialty-grade hydrogen peroxide and peracetic acid in the rapidly growing Asia Pacific market. The acquisition aligns with Evonik’s commitment to advancing its active oxygens business line, focusing on specialised products for forward-thinking applications.
TPL has been a significant regional provider of specialty hydrogen peroxide and peracetic acid, catering to diverse applications such as microchip manufacturing, solar cell production, water treatment, and food safety.
As reported by MarketScreener, previously, TPL operated as a joint venture between PeroxyChem and Aditya Birla Group until Evonik acquired PeroxyChem in February 2020. Following this acquisition, Evonik initially held a 50% stake in TPL before completing the full takeover.
Hydrogen peroxide and peracetic acid are potent oxidizers widely utilizsed in various industrial applications. Their environmental benefit lies in their ability to break down into biodegradable components after use, making them more environmentally friendly compared to alternative chemistries. In addition to this positive environmental impact, Active Oxygens, under Evonik, is actively implementing a concrete sustainability roadmap to minimize the overall environmental footprint of its production network.
Evonik’s Asia Pacific Regional President Claus Rettig commented, “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”.
