Songwon Industrial Group finished 2011 on a high note having announced a number of key events that demonstrate how growth is at the heart of its success now and in the future. Capacity at its state- of-the-art Maeam plant was increased making it one of the largest antioxidant additive facilities in the world and bringing Songwon’s total global manufacturing capacity of antioxidants to 80,000 tons. It is also unique in that it is a fully backward integrated process that delivers security and quality benefits. Songwon Baifu Chemical Co. Ltd. was announced, a joint venture with Tangshan Baifu Chemical Co. Ltd. to manufacture and sell Thioester antioxidants with a fully backward integrated capacity of 6,000 tons.
Jongho Park, Chairman and CEO of Songwon Industrial Group, sees a bright future ahead as he stated: “With the key polymers such as polyolefins set to double over the next 10 years, and with other polymers set to follow in similar trends, the industry will rely on additive suppliers such as Songwon to allow them to meet their growth targets. Additives are a must, they are the key to success in end use applications and we are committed to meeting the needs of our partners in the polymer world.” The polymer industry, and especially thermoplastics, will continue to be put under considerable competitive pressure with the economics of investment remaining critical to fuel future growth, both in established and emerging markets. Jongho Park continued: “Technology is helping us to offer products to our customers that avoid the need for investment in process equipment and help reduce their manufacturing costs, as well as adding security to their quality targets. We can now offer One Pack System (OPS) products that are fully compounded in pellet form, on an industrial scale, from our recently acquired facility in Greiz, Germany, and we are on our way to manufacture Songnox® OPS in a series of JV’s in the Middle East.