Songwon Enters Joint Venture with Qingdao Long Fortune Chemical & Auxiliary
Songwon Industrial Group has signed a joint venture agreement with Qingdao Long Fortune Chemical & Auxiliary Co., Ltd. (QLF) for the production and sale of its One Pack Systems (OPS) and the sale of polymer stabilizers in China, one of the world’s largest and fastest growing polymer markets.
The joint venture will be based in the Qingdao area of Eastern China. The agreement also includes investment into a state-of-the-art OPS plant which will be located in the Pingdu County industrial park. Construction is estimated to start at the end of Q2/2015 and the plant is expected to be fully operational by the end of Q1/2016.
The establishment of a manufacturing facility that provides customers with innovative additive formulations in customized, dust free and easy disposable product forms, positions the joint venture to become a preferred supplier to the polymer industry in China.
Songwon International AG
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