Songwon enters into a joint venture with Qingdao Long Fortune Chemical & Auxiliary Co., Ltd. (QLF) in China
Ulsan, Korea – May 04, 2015 – Songwon Industrial Group (www.songwon.com) has signed a joint venture (JV) agreement with Qingdao Long Fortune Chemical & Auxiliary Co., Ltd. (QLF) for the production and sale of its One Pack Systems (OPS) and the sale of polymer stabilizers in China, one of the world’s largest and fastest growing polymer markets.
(firmenpresse) - The JV will be based in the Qingdao area of Eastern China. The agreement also includes investment into a state-of-the-art OPS plant which will be located in the Pingdu County industrial park. Construction is estimated to start at the end of Q2/2015 and the plant is expected to be fully operational by the end of Q1/2016.
The establishment of a manufacturing facility that provides customers with innovative additive formulations in customized, dust free and easy disposable product forms, positions the JV to become a preferred supplier to the polymer industry in China.
“We are pleased to be teaming up with a competent partner that has such a superb reputation among all the major Chinese polyolefin manufacturers,” said Jongho Park, Chairman and CEO of Songwon. “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 stabilizer supplier in this important region.”
“We are excited to partner with a leading global player to complement our extensive experience in the Chinese polymer industry. Our joint venture brings promising opportunities for growth and we are confident that it will also generate attractive returns”, said Feng Huang, General Manager of QLF.
Further information on Songwon products is available at: www.songwon.com.
Unternehmensinformation / Kurzprofil:
About Songwon Industrial Group
Songwon Industrial Group is the 2nd largest manufacturer of polymer stabilizers in the world with an almost 50 year history of breakthrough solutions. A leader in the development and production of additives and specialty chemicals, Songwon provides added-value products and innovative solutions to the plastics industry.
The company’s extensive product portfolio includes polymer stabilizers, alkylphenols and alkylcresols, PVC stabilizers, plasticizers, tin intermediates, polyurethanes, SAP and flocculants.
With headquarters in Ulsan, Korea, the Songwon Industrial Group comprises 17 companies including 2 joint ventures and 1 representative office, located in 9 different countries on 3 continents. The company has 7 manufacturing facilities, 3 of which are located in Korea, Germany, China, USA, India as well as a manufacturing JV plant in China. Songwon also has a worldwide network sales and customer service offices, logistics hubs and stocking distributors.
About QLF
One of the first domestic manufacturers of antioxidants in China, Qingdao Long Fortune Chemical & Auxiliary Co., Ltd (QLF) is located in the Airport Industry Park of Chengyan District, Qingdao. For more than 20 years, QLF has been well-known for its specialized production and sales of antioxidant products which are widely used throughout the Chinese petrochemical industry for manufacturing polyolefin and other industrial plastics. As one of the organizations involved in drafting the national industry standards for antioxidants in China, QLF has had its products consistently highly recognized by dozens of China National Petroleum and Sinopec subsidiaries. QLF also cooperates closely with Sinopec as a strategic supplier. The company is committed to the longterm and continuous improvement of quality and production excellence to ensure the best performance of its products and services for its customers.
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Datum: 04.05.2015 - 10:34 Uhr
Sprache: Deutsch
News-ID 390367
Anzahl Zeichen: 1765
contact information:
Contact person: Kevin Noels
Town:
Ulsan, Korea
Phone: +31164317011
Kategorie:
Business News
Typ of Press Release: Kooperation
type of sending: Veröffentlichung
Date of sending: 04.05.2015
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