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SONGWON Industrial Group ends a good year with steady growth

financial-result

Sales in 2016 totaled 694,326 Mil. KRW Gross profit was 178,049 Mil. KRW Gross profit margin widened to 25.6% EBITDA increased to 16.4% The company achieved sales revenues of 694,326 Mil. KRW and a net profit of 42,244 Mil. KRW. Within polymer stabilizers, the One Pack Systems (OPS) business was the SONGWON’s growth leader in 2016, with its world-class OPS facility in Abu Dhabi coming onstream in January and the new JV OPS plant in Qingdao, China successfully commissioned in November. Sales in plasticizers and tin intermediates also so... Read More »

SONGWON appoints Azelis as exclusive distributor for Morocco, Algeria and Tunisia

partner_eyecatcher

Based in Casablanca, Azelis Morocco will be responsible for distributing SONGWON’s polymer stabilizers, tin intermediates, PVC stabilizers and polymers, and specialty chemicals products, effective 1st January 2016. SONGWON sees the agreement as an important step to expanding both its presence and relationships with customers in Morocco, Algeria, Tunisia, by combining SONGWON’s long-standing reputation for providing high-performance solutions with Azelis’ experience and knowledge of the market. “At SONGWON, we’re committed to continually e... Read More »

Songwon Industrial Group announces Financial Results for Q1/2016

financial-result

Sales in Q1 totaled 183,074 Mil. KRW Gross profit increased over 2015 to 51,185 Mil. KRW The gross profit margin is at 28.0% Songwon had a promising start to 2016. With business remaining in line with its ambitious expectations, the company saw volumes sold exceeding those sold in Q1/2015. Strong customer demand, raw material and selling price stability, combined with smoothly operating production sites enabled Songwon to achieve acceptable margin results during the first three months of the year. During Q1/2016, EBITDA and EBIT margins ... Read More »

Songwon underlines its commitment to China’s polymer industry at Chinaplas 2016

Songwon

Over the past few years, Songwon has focused on strengthening its overall presence in China. With its JV partners, Songwon currently has two manufacturing facilities in China. Fully back integrated with a capacity of 8000MT, the first one is located in Tangshan and produces high quality thioester antioxidants for the Chinese market, as well as other key regions. Currently in the final stages of construction, the second world class facility, dedicated to production of SONGNOX® One Pack Systems, is located in the Qingdao area of Eastern China ... Read More »

Songwon extends its SONGNOX® PQ stabilizer range

business

With its new stabilizer, SONGNOX® PQ SB, Songwon is launching a semi bead that makes dosing and handling in the plant easier for customers due to its dust free form. In addition, the new SONGNOX® 1162 FF triple blend contains SONGNOX® PQ making it ideally suited for biaxial oriented polypropylene (BOPP) applications, which have one of the broadest approvals for indirect food contact applications globally. “After acquiring SeQuent’s Specialty Chemicals business less than a year ago, we are proud to be able to offer SONGNOX® PQ in this new pro... Read More »

Songwon Industrial Group releases Financial Results for Q2/2015

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After a good start into the year 2015, with a significantly improved gross profit margin in Q1, Songwon saw a more predictable and robust Q2/2015 ─ despite the ongoing challenging market conditions. In Q2, the economic situation in Europe continued to remain instable. Compared to Q2/2014, Songwon’s Q2/2015 results were affected by strong forex devaluations (EUR/USD, JPY/USD), and the oil price. Due to the drastic weakening of the Euro against the Korean Won and other relevant currencies, Songwon experienced lower sales revenues in Europe ... Read More »

Songwon announces global price increases for the entire range of Phenolic Antioxidants

businessman

The increase is effective for all orders invoiced on or after August 15th 2015 or as contracts allow. Further information on Songwon products is available at: www.songwon.com. ... Read More »

SONGWON launches new stabilizer solution for XPS at the AMI Masterbatch conference

meeting

SONGXTEND 1301 stabilizer is specially designed to protect new polymeric flame retardants (pFR) in XPS applications. As the 2nd generation stabilizer for this market, it maintains better molecular weight and color of XPS containing pFR. In addition, the SONGXTEND 1301 stabilizer offers a broader processing window compared to the current state-of-the-art stabilizers on the market. “With SONGXTEND 1301, we are very pleased to provide the XPS market with an alternative and upgraded stabilizer,” says Thomas Schmutz, Director Global Technical Ser... Read More »

Songwon receives the 2015 Frost & Sullivan Product Line Strategy Leadership award

winner

Each year, Frost & Sullivan recognizes the company that has developed a comprehensive product line that caters to the breadth of the market it serves. The award also honors the extent to which the company’s product line meets the demands of its customer base, as well as the overall impact it has in terms of customer value and market penetration. “We are very pleased that Songwon’s dedication to providing customers with highly reliable solutions has been recognized by Frost & Sullivan," said Jongho Park, Chairman and CEO of Songwon. "... Read More »

Songwon Industrial Group announces Financial Results for Q1/2015

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Songwon Industrial Group (www.songwon.com) today announced its financial results for Q1. The Group achieved sales of 157’045 Mil. KRW and a gross profit margin of 15.9% - an increase of 3.4% compared to the Q1/2014. In Million KRW First quarter   2015 2014 ∆% Sales 157’045 162’899 -3.6% Gross profit 24’971 20’327 22.8% Gross profit margin 15.9% 12.5%   Operating profit 5’103 -1’057 582.8% Profit / (loss) for the period 3’... Read More »

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