Solvay and Shinkong create joint venture to serve booming Taiwan semiconductor demand
August 25 2021 - 1:00AM
Solvay and Shinkong create joint venture to serve booming Taiwan
semiconductor demand
Solvay and Shinkong create joint venture to serve
booming Taiwan semiconductor demand
The new electronic grade hydrogen joint venture will build on
Solvay’s experience in Asia, Europe and the United States.
Brussels, August 25, 2021 - 07:00 CEST
Solvay and Shinkong Synthetic Fibers Corporation announced today
that they have agreed upon the creation of a new joint venture,
Shinsol Advanced Chemicals, for the development, production and
marketing of electronic grade hydrogen peroxide.
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 company aims to serve the booming
Taiwan semiconductor industry with this indispensable chemical
agent for the production of integrated electronic circuits and will
have an initial production capacity of 30,000 tons per annum -
which can easily be increased at a later stage, in line with market
demand.
“We are delighted to embark on this new joint operation between
Shinkong and Solvay,” said Eric Wu, chairman of Shinkong Synthetic
Fibers Corporation. “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.”
“The rapid growth in demand in the Taiwan semiconductor industry
is an opportunity to bring our world-leading technology for the
best quality of electronic grade hydrogen peroxide, building on the
experience of multiple Solvay plants already operating in Asia,
Europe and the U.S.,” said Rodrigo Elizondo, president of Solvay
Technology Solutions.
Solvay and Shinkong aim to close the transaction in the second
half of 2021, pending regulatory approvals in Taiwan and other
countries.
Safe harbor
This press release may contain forward-looking information.
Forward-looking statements describe expectations, plans,
strategies, goals, future events or intentions. The achievement of
forward-looking statements contained in this press release is
subject to risks and uncertainties relating to a number of factors,
including general economic factors, interest rate and foreign
currency exchange rate fluctuations, changing market conditions,
product competition, the nature of product development, impact of
acquisitions and divestitures, restructurings, products
withdrawals, regulatory approval processes, all-in scenario of
R&I projects and other unusual items. Consequently, actual
results or future events may differ materially from those expressed
or implied by such forward-looking statements. Should known or
unknown risks or uncertainties materialize, or should our
assumptions prove inaccurate, actual results could vary materially
from those anticipated. The Company undertakes no obligation to
publicly update or revise any forward-looking
statements.
About Shinkong Synthetic Fibers Corporation
Shinkong Synthetics Fibers Corporation (SSFC) is a leading
global manufacturer of PET polymer materials and a core company of
the Shin Kong Group, one of the largest business groups in
Taiwan.
- Solvay and Shinkong create electronic grade hydrogen peroxide
joint venture in Taiwan
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