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Ulsan, Korea – April 2, 2008 – Songwon Industrial, a leading developer
and manufacturer of polymer additives, will increase global prices of its
Songnox® antioxidants, Songlight® and Songsorb® UV stabilizers, Songstab
acid scavengers as well as of its range of aminic antioxidants effective
on orders received on or after May 1, 2008, or as contracts allow.
Jongho Park, Chairman and CEO of Songwon Industrial, explained: “In the
last year we have seen an unprecedented continuous escalation of raw
materials, energy, and freight costs. Several factors have played a role:
- the continuous increase in crude oil prices
- certain availability constraints on key intermediates
- a change on the tax legislation in China, which is a key supplier of
some of the critical materials.”
Although Songwon continues to identify opportunities to control costs and
minimize the impact on customers, the price increase is necessary because
the extent of the increase of such costs can not be absorbed anymore
without affecting Songwon’s strong commitment and ability to further
invest to ensure product availability, innovation, and continuous
improvements in quality and safety.
Price increases will be as follows:
• 7% for the Songnox® phenolic antioxidants
• 9% for the Songnox® phosphite antioxidants
• 9% for the Songnox® thioester antioxidants
• 6% for the Songlight® and Songsorb® UV stabilizers
• Between 10% and 20% for the Songstab acid scavengers, depending
on the product
• 20% for the Songwon aminic antioxidants
About Songwon Industrial Co., Ltd.
Songwon Industrial Co., Ltd. is a leading producer of Songnox®
Antioxidants, Songlight® Hindered Amine Light Stabilizers, Songsorb®
Ultraviolet Light Absorbers, Heat Stabilizers for the plastics industry,
as well as plasticizers, lubricants, surface coating agents,
polyurethane, alkyl phenols, biphenol, flocculants and other chemicals.
The Songwon Group of Companies includes Songwon Industrial Co., Ltd.,
Songwon International AG, Songwon International – Americas Inc., Shanghai
Songwon Brilliant Chemicals Co., Ltd., Songwon International – India, and
Matsubara Bussan Co., Ltd.
Songnox, Songsorb and Songlight are registered trade marks of Songwon
Industrial Co., Ltd.
For further information and clippings, please contact:
Europe Agency Contact:
Songwon International AG Marketing
Solutions
Dieter Morath, Executive Vice President EMEA Tessa Vroegop
Breitenstrasse 16 P.O. Box
58
CH-8501 Frauenfeld 4600 AB Bergen op
Zoom
Switzerland The Netherlands
Tel: +41 52 635 0000 Tel: +31 164 317
038
E-mail: dmorath@songwonind.com E-mail:
tvroegop@marketingsolutions.be
Songwon International – India
Nilesh Mehta, Manager Songwon International-India/Sales Manager South
East Asia
Flat No. 307, B-Wing Kalpataru Building
Satya Nagar, Borivali (West)
Mumbai 400 092, India
Tel: +91 222 861 2053
Mobile: +91 982 055 6971
Fax: +91 222 861 2052
E-mail: nmehta@songwonind.com
USA
Songwon International – Americas, Inc.
James J. McGinley, President Songwon International - Americas, Inc.
Toll Free: +1 877 SONGWON
Direct: +1 281 648 1585
Fax: +1 713 456 1812
E-mail: jmcginley@songwonind.com
This press release can be downloaded from www.PressReleaseFinder.com
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