Evonik Industries (Essen, Germany) and Wynca Group (Hangzhou, China) announced a joint venture to produce Aerosil. Manufactured by Evonik, Aerosil is a line of fumed silica products used in transparent silicones, coatings and paints, modern adhesives, and noncombustible high-performance insulation materials.
Evonik Wynca (Zhenjiang) Silicon Material Co., the new company formed under the joint venture, is 60 percent owned by Evonik and 40 percent owned by Wynca. The joint venture allows Evonik to expand its Aerosil production facilities and enables Wynca to offer silicone-based products to its customers.
According to the terms of the deal, Evonik Wynca (Zhenjiang) Silicon Material Co. will invest millions of euro to build a fumed silica production facility in the Zhenjiang New Material Industry Park (Jiangsu Province, China). The facility, which is projected to produce 8,818.49 tons (8,000 metric tons) annually, is scheduled to open in 2021 pending the approval of relevant corporate bodies and authorities.
Fumed silica is one of Evonik’s four “Smart Materials” and its production is a key economic driver with significant growth potential. With the global market for fumed silica growing at approximately 5 percent, Evonik Wynca (Zhenjiang) Silicon Material Co. is positioned to meet the demands of the growing Asian market.
Representatives from both companies are enthusiastic about the prospects of the joint venture.
“We are now taking the next step with the first fumed silica plant in the attractive Chinese market. Wynca is a strong partner to do this and we look forward to the future cooperation,” says Harald Schwager, deputy chairman of the Executive Board of Evonik Industries.
“The cooperation with Evonik is a good opportunity for Wynca to realize its strategy of moving towards end products and its mission of creating better living with green chemistry,” adds Jianhua Wu, chairman of the Wynca Group.
Source: Evonik Industries, corporate.evonik.com/en.