12 November 2010 12:12 [Source: ICIS news]
LONDON (ICIS)--Evonik Industries has formed a joint venture for the production of hydrogen peroxide in South Korea with Seoul-based company SKC, the German chemicals producer said on Friday.
The company said SKC would acquire a 45% stake in its subsidiary, Evonik Degussa Peroxide Korea.
Evonik Industries did not disclose the financial or other terms of the agreement.
“SKC’s acquisition of a stake in Evonik Degussa Peroxide Korea will strengthen the good relations our two companies already have and will position us optimally for future growth,” said Jan Van den Bergh, head of Evonik's industrial chemicals business unit.
Evonik and German engineering firm Uhde jointly developed the HPPO process and licensed it out to SKC, said the company.
Evonik Degussa Peroxide Korea said it was the largest manufacturer of hydrogen peroxide in South Korea.For more on Evonik visit ICIS company intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections