28 Oct 2010

Songwon and Tangshan Baifu sign agreement to establish a joint venture for the manufacturing and sale of Thioester antioxidants

Ulsan, Korea – October 28, 2010 – At a press conference held today in Düsseldorf, Germany during the K 2010 exhition, Songwon Industrial Co., Ltd. and Tangshan Baifu Chemical Co. Ltd. signed the agreement to establish a joint venture to manufacture and sell Thioester antioxidants. The new company will be named Songwon Baifu Chemical Co. Ltd. and will be operational effective Q1, 2011, subject to all necessary legal approvals. The new company will have a capacity of 6.000 tons of Thioester antioxidants. Songwon will initially own a 30% share of the new company with the option to expand its shareholding to 50%. The joint venture will sell the Thioester products directly to the Chinese market, however, it will use the Songwon global network for all sales outside of China.

Reader enquiries

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

+41 52 635 0000

marketing@songwon.com

www.songwon.com

Notes for editors

About Songwon Industrial Co., Ltd.

Songwon Industrial Co., Ltd. is a leading producer of Songnox® Antioxidants, Songnox® One Pack Systems, Songlight® Hindered Amine Light Stabilizers, Songsorb® Ultraviolet Light Absorbers, Songstab™ Acid Scavengers, Songstab™ PVC Stabilizers, Songcat™Tin Intermediates, Songbrite™ Optical Brightners, Songcizer™ Plasticizers for the plastics industry, as well as lubricants, surface coating agents, polyurethane, alkyl phenols, biphenol, flocculants and other chemicals. The Songwon Group of Companies includes Songwon Industrial Co., Ltd., Songwon International AG, Songwon International – Americas Inc., Songwon Trading (Shanghai) Ltd., Songwon International – India, and Songwon Japan KK.

Songnox, Songsorb and Songlight are registered trade marks of Songwon Industrial Co., Ltd.

Songcat, Songbrite, Songcizer and Songstab are trade marks of Songwon Industrial Co., Ltd.

About Tangshan Baifu Chemical Co. Ltd.

Tangshan Baifu Chemical Co. Ltd. is a leading manufacturer of Thioesters. Located close to Tianjin, the company has strong research & development as well as manufacturing capabilities. Tangshan Baifu Chemical Co. Ltd. sells its products to both local Chinese and international customers in the plastics industry.

Related images

From left to right:
Mr. Philippe Schlaepfer, EVP Strategy & Business Development of Songwon Industrial Co., Ltd.
Mr. Jongho Park, Chairman and President of Songwon Industrial Co., Ltd.
Mr. Weiqi Zhang, President and CEO of Tangshan Baifu Chemical Co. Ltd.
Mr. Y.M. Guo, Director of Sales of Tangshan Baifu Chemical Co. Ltd.
(Photo: Songwon Industrial Co. Ltd.)

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