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05-30-2007

Songwon: New Antioxidant Plant in Korea

The new Songwon Industrial Co., Ltd. grass roots antioxidant manufacturing site in Maeam, Korea which was completed ahead of schedule at the beginning of April 2007 is now in commercial operation.

Songwon invested USD 120 million in the design, construction, and initial operation of the new plant. With this investment, Songwon’s antioxidant production capacity increased with 20,000 metric tons to 55,000 metric tons making Songwon the number two producer globally. The new facility is already designed for a further doubling of capacity to a total capacity of 80,000 metric tons. This investment will be driven by market demand.

The new plant includes back integration into key raw materials and intermediates which brings value to the customers and enhances security of supply, control of quality, and efficiency.

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