Webster's English Dictionary

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saponification

sa.pon.i.fi.ca.tion \s*-.pa:n-*-f*-'ka--sh*n\ n 1: the hydrolysis of a fat 
   by alkali with the formation of a soap and glyce rol 2: the hydrolysis esp. 
   by alkali of an ester into the corresponding alcohol  and acid; broadly : 
   HYDROLYSIS