Songwon Industrial Group has formed a joint venture (JV) with Qingdao Long Fortune Chemical & Auxiliary (QLF) to manufacture and market polymer stabilisers in China.
The companies have signed a JV agreement, which will see the production and sale of Songwon's one pack systems (OPS) and polymer stabilisers. Planned for the Qingdao area of Eastern China, the JV aims to become a preferred supplier to the country's polymer industry. Under the agreement, investments will be made into a new OPS plant based in the Pingdu County industrial park. Construction on the plant is expected to begin in the end of Q2-2015 with operation scheduled to start by the end of Q1-2016.
"The manufacturing facility is intended to offer new additive formulations to customers in customised, dust-free and easy disposable product forms."
The manufacturing facility is intended to offer new additive formulations to customers in customised, dust-free and easy disposable product forms, Songwon said.
Songwon Industrial Group chairman and CEO Jongho Park said: "We are pleased to be teaming up with a competent partner that has such a superb reputation among all the major Chinese polyolefin manufacturers.
"The partnership provides an excellent opportunity for us to build a manufacturing presence in China and further strengthens Songwon's ambition to become a leading polymer stabiliser supplier in this important region."
06-May-15 
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