Joint Announcement by Songwon Industrial Co., Ltd. and Clariant International Ltd.
Ulsan, Korea, September 15, 2006 - Songwon Industrial Co., Ltd. and Clariant International Ltd. (Muttenz, Switzerland) announced today that they mutually agreed to end their cooperation in antioxidants after many years of a successful partnership as of January 31, 2008. The decision follows as a result of a strategic re-orientation of both companies based on the global market development.
Until January 2008 Clariant group will continue to distribute antioxidants (1010, 1076, and 168 type) and related blends produced by Songwon Industrial. After the termination of the existing agreement, Clariant and Songwon will pursue their activities in antioxidants for the polymer markets independently.
Following this announcement, each company will communicate its own strategic approach individually to the market.
About Songwon Industrial Co., Ltd.
Songwon Industrial Co., Ltd. is a leading producer of antioxidants and heat stabilizers for the plastics industry, as well as plasticizers, lubricants, surface coating agents, polyurethane, antioxidants, alkyl phenols, biphenol, flocculants and other chemicals.
About Clariant
Clariant is a global leader in the field of specialty chemicals. Strong business relationships, commitment to outstanding service and wide-ranging application know-how make Clariant a preferred partner for its customers. Clariant's Plastics Business is a global player in pigments and additives for the polymer industry.
For further information and clippings, please contact:
EMEA
Songwon International AG
Dieter Morath
Thundorferstrasse 13
CH-8501 Frauenfeld
Switzerland
Tel: +49 172 38 500 52
E-mail: dmorath@songwonind.com
Korea
Songwon Industrial Co. Ltd.
737-2 Yochon-dong, Nam-Gu
Ulsan 680090, Korea
Tel: +82 522 739 841
Fax: +82 522 723 528
E-mail: info@songwonind.com
E-mail: tvroegop@marketingsolutions.be
Agency Contact:
AH&M Marketing Communications
Matthew Zurawik
152 North St., Suite 340
Pittsfield, MA 01201
U.S.A.
Tel: 413-448-2260 Ext. 47
E-mail: mzurawik@ahminc.com
Marketing Solutions
Tessa Vroegop
P.O. Box 58
4600 AB Bergen op Zoom
The Netherlands
Tel: +31 164 317 038
