Evonik and SKC found joint venture for the production of hydrogen peroxide in Korea

Essen, Germany, November 12, 2010 – The signing of a deal in Essen on November 11, 2010, sees SKC, a Seoul, Korea-based company, acquiring a 45-percent share in Evonik Degussa Peroxide Korea Co., Ltd. (Ulsan), a subsidiary of Evonik Degussa GmbH.

Evonik Degussa Peroxide Korea is the largest manufacturer of hydrogen peroxide in Korea, where it has been operating since 2006.

“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 the Industrial Chemicals Business Unit, at the contract’s signing. “For our partner, SKC, this cooperation also means both a high degree of supply security and greater independence from prevailing market prices for their hydrogen peroxide needs.”

In 2008, SKC went on stream with the world’s first commercial plant for HPPO-process propylene oxide. With a capacity of 100,000 metric tons annually, the plant has been consistently operating at maximum capacity utilization since the day it was launched.

Evonik and Uhde, an engineering company, had previously jointly developed the HPPO process and licensed it out to SKC. In this process, a catalyst engineered by Evonik is used to make propylene oxide from propylene and hydrogen peroxide. The process is particularly efficient and environmentally friendly. No by-products other than water are generated in any appreciable amount.