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S Korean additive maker Songwon to set up joint venture in Qingdao

2015/5/8 17:10:18   source:Chna Daily

  South Korean chemical additives producers Songwon Industrial Group and Qingdao Fenghua Haolong Auxiliary Chemicals Co recently agreed to a joint venture in Qingdao, Shandong province.

  The joint venture will produce additive premix products. Other polymer additives will also be sold on the Chinese market, as both companies view China as one of the largest and fastest-growing markets for polymers. It will offer one-stop, customized premix products to customers in the polymer industry.

  A plant will be built in the Pingdu chemical industry park in Qingdao. Construction of the plant will begin in the second quarter this year, and the facility is scheduled to be put into operation by the beginning of 2016.

  Songwon Chairman and CEO Jongho Park said the move marked a step forward to dominate the the regional market.

  Huang Feng, general manager of Qingdao Fenghua Haolong Auxiliary Chemicals, hoped that the two companies will supplement one another through the joint venture, which he says will bring good returns to both sides.

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