PRODUCTION OF ALCOHOL, LACTONE OR ETHER

PROBLEM TO BE SOLVED: To obtain the subject compound under mild conditions for both temperature and pressure by reaction of a compound having CO-O group with hydrogen in the presence of a specific noble metal Raney catalyst to effect efficient hydrogenation in high conversion and selectivity. SOLUTION: The objective compound is obtained by reaction of (A) a compound having CO-O group with hydrogen in the presence of (B) a noble metal Raney catalyst containing at least one noble metal element belonging to both the 5th and 6th periods of respective groups 8, 9 and 10 to effect reduction of the CO-O group into CH2 O group. The component B is pref a Raney ruthenium catalyst or modified Raney ruthenium catalyst. For preparing the catalyst, for example, it is recommended that an alloy composed of aluminum and ruthenium is first prepared to produce a Raney alloy in the form of fine particles, which are then reacted with an aqueous caustic alkali solution such as of sodium hydroxide and spread and then washed with water.