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Songwon: Global price increases due to higher freight rates

December 11/2020

MOSCOW (MRC) -- Songwon announced on 7 December that prices for all its products will be raised by 2-5 %, depending on business line and region, according to GV.

The company said that these price increases are a consequence of the sudden escalation of freight rates that took place on most routes. The new prices are effective as of 1 January 2021, or as contracts allow.

Headquartered in South Korea, Songwon is the 2nd largest manufacturer of polymer stabilisers worldwide. The group also supplies a broad range of polyurethane-based products, among these thermoplastic polyurethanes (TPU) under the brand name Songstomer.

As MRC reported earlier, in August 2017, South Korean specialty chemicals company Songwon Industrial Co Ltd  launched its new pilot plant in Panoli (Gujarat), thereby strengthening the organisations overall specialty chemicals development capability.

We remind that Russia's output of chemical products rose in October 2020 by 7.2% year on year. At the same time, production of basic chemicals grew in the first ten months of 2020 by 6.3% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-October output. October production of polymers in primary form grew to 857,000 tonnes from 852,000 tonnes in September. Overall output of polymers in primary form totalled 8,340,000 tonnes over the stated period, up by 17%  year on year.

Headquartered in Ulsan (South Korea), Songwon Industrial Co is a leader in the development, production and supply of specialty chemicals. The second largest manufacturer of polymer stabilisers worldwide, Songwon operates group companies all over the world, offering the combined benefits of a global framework and readily accessible local organisations.

Author:Margaret Volkova
Tags:poliuretan, propylene, ethylene, petrochemistry, footwear, adhesives, Songwon Industrial, Russia, South Korea.
Category:General News
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