Peter Greven and IOI Oleochemicals set up metallic stearates Joint-Venture

Peter Greven Fett-Chemie and IOI Oleochemical Industries have decided to set up a Joint-Venture in Penang (Malaysia). This partnership called Peter Greven Asia is the realisation of a cooperative production and distribution of Metallic soaps. The new company which is to 60% owned by Peter Greven and to 40 % owned by IOI will start their business at the beginning of April 2007. Peter Greven is a manufacturer of oleochemical products in Europe with the core business fatty acids, ester lubricants and metallic soaps. The company has two European production sites and can look back to a long tradition as a leading supplier of metallic stearates in the European market. Peter Greven will contribute its knowledge regarding the new and progressive technologies of production processes and also their sales know-how and distribution channels as specialist in metallic soaps to the new Joint-Venture. The IOI Oleochemicals Group has attained a leadership position as Malaysia's largest and most integrated downstream palm-based group. The group is active in several oleochemical business segments. In particular, the group has gained a leading position on a global basis in the business segment of fatty acids. IOI will bring in their existing metallic soaps business called Stabilchem in the Joint-Venture. Furthermore, IOI will be responsible for the provision of fatty acid in cooperation with their associated company Acidchem. Merging the strengths of this two market leaders the vision and aim of the Joint- Venture Peter Greven Asia is to attain a leading position in metallic soaps in Asia. Those metallic soaps will be used as additives in many diversified applications, the biggest industry partners will be plastics, rubber, building protection and paper industry. The main markets for the Joint Venture will be the Asian markets China, India, Japan, Korea and Taiwan, but also Middle East and the U.S..

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