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Songwon establishes new business in Qingdao, China

May 05/2021

MOSCOW (MRC) -- Songwon Industrial Co., Ltd., announces the establishment of its new business entity in China, Songwon International-Qingdao Co., Ltd., said the company.

The new organization will ensure that SONGWON remains well-positioned to continue providing customers in this important strategic region with high quality products and service.

Songwon also announces that the divestment of its shareholding in the Qingdao Long Fortune Songwon Chemical Co., Ltd. joint venture has been completed.

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.

Ethylene and propylene are feedstocks for producing PE and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated polyethylene (PE) consumption totalled 356,370 tonnes in the first two month of 2021, down by 9% year on year. Shipments of exclusively low density polyethylene (LDPE) increased. At the same time, polypropylene (PP) shipments to the Russian market was 246,870 tonnes in January-February 2021, up by 30% year on year. Supply of homopolymer PP and PP block copolymers increased.

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.


mrcplast.com
Author:Anna Larionova
Tags:PP, PE, ethylene, propylene, Songwon Industrial.
Category:General News
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