Solvay S.A. (Brussels, Belgium) and Shinkong Synthetics Fibers Corp. (SSFC), a Taiwan-based global manufacturer of PET polymer materials, announced that they have agreed upon the creation of a new joint venture (JV), 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 metric tons per year (m.t./yr), which the companies say 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.