Songwon acquires Additives Technology Greiz

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Songwon acquires Additives Technology Greiz

! z! O& f/ M5 C" t% d$ cWednesday, December 14, 2011

% @! u. |" U( I0 N7 g1 UUlsan, Korea - Songwon Industrial Group has acquired Additives Technology Greiz (ATG), one of Europe’s largest manufacturers of one pack systems (OPS) products for the polymer industry. ATG’s manufacturing plant is located in Greiz (Germany) and has produced dust free polymer additive packages since 2006. The terms of the acquisition were not disclosed. “This acquisition is a landmark step for Songwon”, stated Jongho Park, Chairman and CEO of Songwon Industrial Group. “We promised our customers that we would meet their demands and we will now be able to deliver Songnox OPS in significant volumes immediately with the ability to expand the annual capacity up to 12.000 tons in the future. Our customers will also benefit from a broader range of technologies which we will combine with our own expertise to deliver new and more cost effective solutions based on our fully backward integrated stabilizer production.” Doug Excell, vice president of business management for main antioxidant blends and OPS will take responsibility for the integration of ATG into the Songwon business structure.