Ulsan, Korea – November 20, 2014 – Songwon Industrial Co., Ltd. today announced a global price increase of 8% – 12% on a majority of its SONGNOX®, SONGSORB® and SONGXTEND product range of polymer stabilizers for the plastics industry.
Songwon Industrial Group’s acquisition of SeQuent’s Specialty Chemicals business, which includes the polymer stabilizer business, the production site in Panoli and the local R&D division, has been successfully completed according to plan.
• Sales decline of -6.6% in 2014 compared to 2013 • Gross profit of 20,327 Mil. KRW, a 37.1% decrease from 2013 • Positive outlook into Q2 with orders on hand stronger than in Q1
