Songwon announces global price increases of antioxidants and UV absorbers

Ulsan, Korea – April 2, 2008 – Songwon Industrial, a leading developer and manufacturer of polymer additives, will increase global prices of its Songnox® antioxidants, Songlight® and Songsorb® UV stabilizers, Songstab acid scavengers as well as of its range of aminic antioxidants effective on orders received on or after May 1, 2008, or as contracts allow.

Jongho Park, Chairman and CEO of Songwon Industrial, explained: “In the last year we have seen an unprecedented continuous escalation of raw materials, energy, and freight costs. Several factors have played a role:

- the continuous increase in crude oil prices

- certain availability constraints on key intermediates

- a change on the tax legislation in China, which is a key supplier of some of the critical materials.”

Although Songwon continues to identify opportunities to control costs and minimize the impact on customers, the price increase is necessary because the extent of the increase of such costs can not be absorbed anymore without affecting Songwon’s strong commitment and ability to further invest to ensure product availability, innovation, and continuous improvements in quality and safety.

Price increases will be as follows:

• 7% for the Songnox® phenolic antioxidants

• 9% for the Songnox® phosphite antioxidants

• 9% for the Songnox® thioester antioxidants

• 6% for the Songlight® and Songsorb® UV stabilizers

• Between 10% and 20% for the Songstab acid scavengers, depending on the product

• 20% for the Songwon aminic antioxidants

Reader enquiries

Songwon Industrial Co., Ltd.
Walzmühlestrasse 48
8500 Frauenfeld
Switzerland

+41 52 635 0000

marketing@​songwon.com

www.songwon.com