ThyssenKrupp Industrial Solutions, the plant engineering and construction specialist of the ThyssenKrupp Group, celebrated its 25th anniversary in Thailand and announces further investments to strengthen its position as one of the leading plant engineering companies in the region.
As part of its growth strategy, ThyssenKrupp Industrial Solutions is expanding its Specialty Chemical and Oleochemical Technology Portfolio through acquiring technologies for the production of special industrial chemicals based on renewable raw materials from Inventa Technologies, Singapore. In order to strengthen its regional footprint further, the company will also invest into a new research and development (R&D) centre in Rayong (Thailand), including pilot plants and laboratory infrastructure. The R&D centre will complement the existing engineering hub in Thailand, making it the technology and competence hub for Oleochemical Technologies within ThyssenKrupp Industrial Solutions. The company commits to invest more than USD 20M into the new technologies and related acquisitions.
The acquisition comprises three technology platforms in the fields of alkoxylation, esterification as well as fatty amines. The major drivers for these investments are the projection of strong population growth particularly in Asia-Pacific, as well as the increasing focus on environmentally friendly solutions in emerging countries and the Americas. The estimated market growth rate for these technologies in Asia Pacific is 8.5% compared to an expected global market growth rate of about 6%.