Polymer Additives Songwon Price Increases

2008-04-02 Manufacturing News

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A leading developer and manufacturer of polymer additives, Songwon Industrial, will increase global prices of antioxidants and UV absorbers.

Songwon Industrial, a leading developer and manufacturer of polymer additives, will increase global prices of its Songnox* antioxidants, Songlight* and Songsorb* UV stabilizers, Songstab acid scavengers, and also its range of aminic antioxidants effective on orders received on or after May 1, 2008, or as contracts allow.

Jongho Park, chairman and CEO of Songwon Industrial, explained: “In the last year we have seen an unprecedented continuous escalation of raw materials, energy, and freight costs. Several factors have played a role: the continuous increase in crude oil prices; certain availability constraints on key intermediates; and a change on the tax legislation in China, which is a key supplier of some of the critical materials.”

Although Songwon continues to identify opportunities to control costs and minimize the impact on customers, the price increase is necessary because the extent of the increase of such costs can not be absorbed anymore without affecting Songwon’s strong commitment and ability to further invest to ensure product availability, innovation, and continuous improvements in quality and safety.

Price increases will be as follows:

• 7 percent for the Songnox phenolic antioxidants

• 9 percent for the Songnox phosphite antioxidants

• 9 percent for the Songnox thioester antioxidants

• 6 percent for the Songlight and Songsorb UV stabilizers

• Between 10 percent and 20 percent for the Songstab acid scavengers, depending on the product

• 20 percent for the Songwon aminic antioxidants

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* Songnox, Songsorb and Songlight are registered trade marks of Songwon Industrial Co., Ltd., a major producer of polymer additives.

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