Songwon forms a strategic cooperation with Nitto Kasei Co., Ltd. to deliver Organotin Intermediates in Japan

Ulsan, Korea, March 19, 2008 – Songwon is pleased to announce the cooperation with Nitto Kasei for the long term supply of Organotin Intermediates in Japan.

Following a recent agreement between Nitto Kasei and Sankyo Organic Chemicals of Japan, who have decided to stop the activities of their chemicals division to produce Organotin Stabilizers and Catalysts as of April 1st 2008, all production will be transferred to Nitto Kasei.

Songwon, who was previously appointed as the supply partner to Sankyo Organic Chemicals, has signed a long term agreement with Nitto Kasei to support their demand for intermediates, mainly Di-Alkyl Tin Oxide, for the production of tin based PVC stabilizers and catalysts.

Jongho Park, Chairman and CEO of Songwon Industrial Co., Ltd. commented: “This new agreement with Nitto Kasei reinforces our commitment to produce leading edge products and to maintain that position with key innovative developments; this is reflected in the long term nature of the agreement. We are also one of the few suppliers with backward integration into tin ingot which enables us to closely monitor quality and meet the demands of our customers”.

Ryuichi Katsumura, President and CEO of Nitto Kasei Co., Ltd. stated: “This is a great opportunity for us and we are keen to maintain the additional market share that we have taken on board from Sankyo and use that as a base to foster future growth. The quality of our products is reliant on key suppliers such as Songwon; we also needed to guarantee consistency and continuity to meet our growth agenda which is why we are pleased with the long term nature of this cooperation”.

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