Solvay, Shinkong Synthetic Fibers To Form Taiwan JV For Electronic Grade Hydrogen Peroxide

Belgian chemicals company Solvay S.A. (SVYSF.PK, SVYZY.PK) announced Wednesday its agreement with Shinkong Synthetic Fibers Corp., a Taiwanese manufacturer of PET polymer materials, to create a new joint venture, Shinsol Advanced Chemicals. The joint venture will develop, produce and market electronic grade hydrogen peroxide.

Solvay and Shinkong aim to close the transaction in the second half of 2021, pending regulatory approvals in Taiwan and other countries.

The joint venture is scheduled to begin operations in the first quarter of 2023 and will be located close to the Southern Taiwan Science Park near Tainan.

The JV aims to serve the booming Taiwan semiconductor industry with the indispensable chemical agent for the production of integrated electronic circuits. The JV will have an initial production capacity of 30,000 tons per annum. This will be increased at a later stage, in line with market demand.

Eric Wu, chairman of Shinkong Synthetic Fibers, said, "This joint venture will supply electronic grade hydrogen peroxide with the highest international quality standards while strictly following the principles of sustainability and minimizing environmental impact."

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