Aekyung Chemical said on the 3rd that it has completed the process to acquire the Evonik Indonesia plant, a surfactant production facility in Bekasi Timur, Indonesia.
Evonik is one of the world's largest specialty chemical corporations headquartered in Germany, and the Evonik Indonesia plant has an annual surfactant production capacity of about 25,000 tons (t).
Through the acquisition of the Evonik Indonesia plant, Aekyung Chemical plans to diversify its sourcing channels for surfactant raw materials and enhance product competitiveness in the market.
It also plans to use the Indonesia plant as a forward base to strengthen its influence in the Asian market. According to the industry, the Asia-Pacific surfactant market is expected to expand to $31.94 billion (about 45.7 trillion won) by 2032.
Pyo Kyung-won, CEO of Aekyung Chemical, said, "With this acquisition, we have been able to strengthen our business network in Asia and raise recognition, enabling us to expand our sales power quickly."