Solvay, Shinkong Join Forces to Serve Taiwan Semiconductor Market

By Olivia Bugault

Solvay SA said Wednesday that it has agreed on the creation of a joint venture with Taiwan's Shinkong Synthetic Fiber Corp. for the development and production of electronic-grade hydrogen peroxide.

The new entity---which should begin operations in the first quarter of 2023 and will be called Shinsol Advanced Chemicals--will sell the chemical agent in Taiwan where the demand in the semiconductor industry is increasing, the Belgium company said.

"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," Solvay said.

The transaction is expected to be closed in the second half of 2021, the chemical company said.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

08-25-21 0131ET