Germany based chemical company; Evonik is looking to invest chemical industry in Myanmar

Evonik, a Germany-based chemical company, is watching closely the chemical industry of Myanmar as it is considering making a presence in Myanmar, according to Evonik (SEA) Pte. Ltd in Singapore.

Evonik is a business group with a presence in over 100 countries around the world, and has more than 36,000 employees.

In fiscal year 2018, the enterprise managed to sell €15 billion worth products and an operating profit (adjusted EBITDA) of €2.6 billion, said Mr. Peter Meinshausen, Regional President of Evonik Asia Pacific South.

“Now we are doing the market research and the market analyze in Myanmar before we use spend a lot of money. We are trying to get the framework firstly, so we can’t say the details,” he added, “we have once discussed with Myanmar Investment Commission”.

Since 1920, Evonik has expanded its manufacturing and innovation footprint across 11 countries in South Asia Pacific region. Evonik’s Asia Pacific South region is headquartered in Singapore.

The core activities in the region include among others feed, lubricants, hydrogen peroxide, precipitated and fumed silica, acrylic resins, personal and household care, coatings, performance and specialty monomers, molding compounds, as well as high-performance polymers. 

Furthermore, Evonik is working on the construction of a second world-scale methionine complex in Singapore and a demonstration plant for sugar substitute isomalt in Thailand, Mr. Peter Meinshausen said.

During the last four years, Evonik opened its offices in Bangladesh, Pakistan, Philippines and Malaysia to provide their services.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/germany-s-evonik-looking-invest-myanmar )

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