19 Feb 2013
Leading antioxidant producer Songwon Industrial Co., Ltd. to restructure financials and set foundation for strong growth
Seoul, Korea – February 19, 2013 – Ulsan-based Songwon Industrial Co., Ltd. (CEO Jongho Park), a leading producer of Specialty Chemicals and in particular of plastic antioxidants, announces plans to secure financing that will ensure financial stability and establish a firm foundation for the company’s future growth. The company has concluded an agreement with five lenders on February 18th for a syndicated loan valued at KRW 220 billion with Korea Exchange Bank as the lead institution and Woori Bank as the joint lead.
5 Feb 2013
Songwon Industrial Group concludes 2012 with positive Q4 and year end financial results
Ulsan, Korea – February 5, 2013 – Songwon Industrial Group (www.songwon.com), the second largest manufacturer of polymer stabilizers in the world and a leading global producer and supplier of additives and other chemicals to the plastic industry, announces preliminary, unaudited total sales revenues for the 4th quarter of 2012 of 151’594 Mil. KRW with gross profits of 30’872 Mil. KRW and a profit for the period of 3’834 Mil. KRW.
24 Jan 2013
Songwon appoints Doris Peters as Global Director of Marketing and Business Analysis
Ulsan, Korea – January 24, 2013 – Songwon Industrial Group (www.songwon.com) has appointed Doris Peters as Global Director of Marketing and Business Analysis, effective January 1, 2013. As the second largest manufacturer of polymer stabilizers in the world and a leading global supplier of additives and other chemicals to the plastic industry, Songwon is committed to becoming the supplier of choice through delivering better quality, better service and better value. This critical new position will contribute to the company’s determination to continue to deliver products and services that are ‘salient’ to its customers, when and where they need them.
15 Jan 2013
Songwon appoints Elena Scaltritti as new Sales Director Europe
Ulsan, Korea – January 15, 2013 – Songwon Industrial Group (www.songwon.com) has announced that as of January 1, Elena Scaltritti has taken over the role of Director of Sales for Greater Europe from Dieter Morath, Executive Vice President Sales and Member of the Songwon Industrial Group Executive Committee.
27 Nov 2012
Songwon Additive Technologies AG and Polysys Industries announce the location of their Middle East plant
Ulsan, Korea – November 27, 2012 – Today, Songwon Additive Technologies AG and Polysys Industries announced that they will establish a new company Polysys Additive Technologies ME, which will build an OPS (One Pack Systems) manufacturing plant in Kizad (Khalifa Industrial City of Abu Dhabi), Abu Dhabi. This follows the announcement of the establishment of Songwon Additive Technologies AG, a Joint Venture between Songwon Industrial Group (www.songwon.com), Pan Gulf Holding Company of Saudi Arabia and Polysys Industries of Abu Dhabi, for the manufacture and sale of Songnox® OPS. (Link to the press release).
20 Nov 2012
Songwon Baifu Chemicals JV now fully operational in thioester antioxidants
Ulsan, Korea - November 20, 2012 - Songwon Industrial Co., Ltd. (www.songwon.com) and Tangshan Baifu Chemical Co. Ltd. have formalized their joint venture relationship. The new company is called Songwon Baifu Chemicals (Tangshan) Co., Ltd. and has commenced its operations on July 1, 2012. With a production capacity of 8.000 metric tons of thioester antioxidants, and the required key intermediate capacity Songwon Baifu Chemicals (Tangshan) Co., Ltd. is now fully integrated into Songwon’s global operational processes.
19 Nov 2012
Songwon to present “The Role of Stabilizers and Solutions in the Design of New and Recycled Materials for the Automotive Industry” at the 6th China Auto Plastics Summit
Ulsan, Korea – November 19, 2012 – At The 6th International Auto Plastics and Innovative Materials Development Forum, which will take place on the 28th and 29th of November in Cangzhou, China, Songwon Industrial Co., Ltd. (www.songwon.com), the global number two manufacturer and supplier of polymer additives, will showcase its extensive portfolio of products that help the auto industry’s meet their needs for performance and sustainability.
12 Nov 2012
Songwon Industrial Group announces a solid financial performance in Q3 2012
Ulsan, Korea – November 12, 2012 – Songwon Industrial Group (www.songwon.com), the second largest manufacturer of polymer stabilizers in the world and a leading global producer and supplier of additives and other chemicals to the plastic industry, announces total sales revenues of 528’044 Mil. KRW for the first nine months of 2012 and a net profit after tax of 16’466 Mil. KRW (3.1% of sales), of which 5’697 Mil. KRW was contributed in Q3 2012. Compared to the same period in 2011 (annualized figures), in the first nine months of 2012 Songwon Group has achieved a sales growth rate of 11.9%, a gross profit growth rate of 46%, while the net profit jumped 118%.
16 Oct 2012
Songwon, Pan Gulf and Polysys form Songwon Additive Technologies AG for global manufacture and sale of Songnox® OPS
Ulsan, Korea - October 16, 2012 - Today, Songwon Industrial Group, Pan Gulf Holdings of Saudi Arabia and Polysys Industries of Abu Dhabi proudly announce the establishment of their Joint Venture, Songwon Additive Technologies AG, for the manufacture and sale of Songnox® OPS. This follows the signature of a Memorandum of Understanding (MoU) among the three partners announced on December 14, 2011. (Link to the press release).
10 Oct 2012
Songwon and Sabo join forces to establish a global presence for Light Stabilizers for the Polymer Industry
Ulsan, Korea - October 10, 2012 - Songwon is pleased to announce it has entered into long term distribution arrangements with Sabo SpA representing a further milestone in its long-term strategic ambition to be a leading supplier of polymer stabilizer solutions to the global polymer industry. Sabo SpA, based in Levate, Italy, is a leading producer of monomeric and polymeric HALS (Hindered Amine Light Stabilizer) and enjoys a reputation as a supplier of high quality products and a provider of innovative solutions.
4 Oct 2012
Songwon announces completion of One Pack Systems capacity increase at its facility in Greiz, Germany
Ulsan, Korea - October 4, 2012 - Today, Songwon Industrial Co., Ltd. has announced it has completed the capacity expansion of its OPS (One Pack Systems) production facility in Greiz, Germany. The capacity expansion project was completed on time, and doubles the current production capacity of Songnox® OPS products from 7.000 metric tons to 14.000 metric tons.
2 Oct 2012
Songwon launches a new website that reflects its consolidated market approach and corporate strategy for continued growth
Ulsan, Korea - October 2, 2012 - As part of Songwon's commitment to provide customers with excellent service across the globe, the company launched on October 1, 2012, its completely new and significantly extended website - www.songwon.com.
