Songwon announces the expansion of its new isobutylene facility

Ulsan, Korea – June 3, 2010 – Songwon Industrial Co. Ltd. is pleased to announce that its new isobutylene (IBL) production facility located at the Maeam site in South Korea, which just started production in May 2009 with a capacity of 30.000 tons has been successfully expanded to reach a total capacity of 40.000 tons.

Jongho Park, Chairman and CEO of Songwon Industrial Co., Ltd. commented; “Less than one year ago, we announced the start up of our isobutylene plant, based on our proprietary TBA (t-butanol) cracking technology. This was the first industrial scale plant based on such a technology. Now after less than one year we are proud to announce the expansion more than 30%, reaching a total capacity of 40.000 tons. The new technology has proven to be very effective, allowing Songwon to produce isobutylene extremely efficiently, reducing energy consumption compared to traditional processes. This will allow us to continue to deliver on our program of back-integration, with the aim to further increase reliability and reduce our exposure to volatile market prices of raw materials based on oil.”

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