Songwon Industrial Group concludes 2013 with strong Q4 growth and solid full year financial results

Highlights

  • Sales growth of 1.8% in 2013 compared to 2012
  • Net profit of 22,927 Mil. KRW, an increase of 12.1% versus 2012
  • Strong performance in core business Polymer Stabilizers, growing 12.5% year over year
Ulsan, Korea - March 7, 2014 - Songwon Industrial Group (www.songwon.com) is pleased to announce that sales and profits continued to grow in Q4 2013, contributing to overall growth for the full year. Sales revenues reached 169,062 Mil. KRW for the fourth quarter, an increase of 11.5% on Q4 2012, contributing to total sales of 692,164 Mil. KRW for the full year 2013, an increase of 1.8% compared to 2012.

Songwon Industrial Group achieves steady progress with solid results for the third quarter 2013

Highlights

  • Solid financial results for Q3 contribute to the steady progress made by Songwon during 2013
  • Strong growth in core Polymer Stabilizers business with sales increasing by 9.3% YTD 2013 compared to 2012
  • Gross profit margin adjusted for idle capacity variances slightly increased from 17.6% to 18.3% YTD, driven by planned productivity improvements
  • YTD EBIT Margin increases from 6.0% to 6.9% compared to prior year
Ulsan, Korea – November 26, 2013 – Songwon Industrial Group (www.songwon.com) is pleased to announce steady progress with improved results for Q3 and the first nine months of 2013. Sales revenues in Q3 2013 of Mil. KRW 175,800 represent an increase of 0.8% in comparison to the same period in 2012. The detailed Q3 2013 financial results report, which is compliant with Korean International Financial Reporting Standards (“K-IFRS”), can be downloaded at: www.songwon.com/en/investors/financialresults.

K 2013: Songwon – Taking the lead in regulatory affairs and product stewardship

Songwon at K 2013 – taking the lead in regulatory affairs and environmental stewardship. Songwon provides extensive information to its customers through a newsletter, on the REACH process, requirement, deadline, developments and achievements. 
(Photo: Songwon Industrial Co., Ltd.)Ulsan, Korea - October 21, 2013 - Songwon Industrial Group (www.songwon.com) is dedicated to sustainability which is clearly demonstrated in how it is meeting or exceeding stringent environmental and health & safety regulations and initiatives. This is being driven by a commitment to produce and sell products that use less of the Earth’s resources and which can be safely used by the value chain. Songwon’s global customers can continue to meet their environmental and health & safety goals, being ensured that they do not only use products that meet all these regulations, but will also receive expert support on the complexities of compliance, registration and certification.

K 2013: Songwon launches SONGXTEND™ product line, a new and innovative stabilization package for polymers

K 2013: Songwon launches SONGXTEND™ product line, new and innovative stabilization package for polymers.
(Photo: Songwon Industrial Co., Ltd.)

  • SONGXTEND™ stabilizers, a new product family that offers benefits along the entire value chain from polymer production to end-use
  • SONGXTEND™ stabilizers enable more robust and efficient processing as well as outstanding performance in line with todays requirements of the polyolefin industry
Ulsan, Korea - October 18, 2013 - Songwon Industrial Group (www.songwon.com), the second largest manufacturer of polymer stabilizers in the world, today launches its SONGXTEND™ product line at K 2013 in Düsseldorf. The SONGXTEND™ product family offers innovative stabilization packages that solve a number of key issues encountered during processing, conversion and the end-use life cycle of polyolefins. SONGXTEND™ products are commercially available today and the product range will be expanded continuously to meet emerging customer needs.

K 2013: Songwon further expanding its range of innovative stabilizer solutions

Songwon at K 2013 - the Salient in Additives partner investing for its customers in innovative stabilizers. 
(Photo: Songwon ATG GmbH R&D in Greiz, Germany - Songwon Industrial Co., Ltd.)

  • Songwon - reliably delivering essential and innovative products
  • Songwon - expanding its portfolio of world class products – launch of SONGXTEND™ product line at K 2013
  • Songwon - investing in technology and capacity to meet the needs of its customers
Ulsan, Korea - October 16, 2013 - At K 2013, Songwon (www.songwon.com), the world’s second largest supplier of additives to the global polymer industry, is demonstrating how their continued investment is meeting the needs of their customers for the security of supply of reliable and innovative stabilizer solutions.

Rolf Drewes joins Songwon as Vice President Business Sector Specialty Chemicals

Rolf Drewes joins Songwon as Vice President Business Sector Specialty Chemicals.
(Photo: Songwon Industrial Co., Ltd.)Ulsan, Korea - October 2, 2013 - Songwon Industrial Group (www.songwon.com) strengthens its leadership team by appointing Dr. Rolf Drewes as Vice President Business Sector Specialty Chemicals, effective October 1st, 2013. Drewes brings 25 years of industry experience and an excellent international track record of leading technically challenging business units and building up new markets.

ソンウォン、
日本担当テクニカルセールスマネージャーに
大野修氏を任命

プラスチック産業向けの添加剤や化学品の生産・供給のグローバルリーダーであるSongwonグループ(松原産業株式会社・本社:韓国ウルサン市、www.songwon.com、以下Songwon)は、2013年8月1日付けで、日本担当テクニカルセールスマネージャーにOsamu Ohno氏を任命した。 (写真提供: 松原産業株式会社)ウルサン・韓国 – 2013年9月18日 – プラスチック産業向けの添加剤や化学品の生産・供給のグローバルリーダーであるSongwonグループ(松原産業株式会社・本社:韓国ウルサン市、www.songwon.com、以下Songwon)は、2013年8月1日付けで、日本担当テクニカルセールスマネージャーに大野修氏を任命した。大野氏は、同社日本法人であるソンウォンインターナショナルジャパン株式会社(本社:東京都港区)に所属する。Songwonは、より良い品質、サービスおよび価値の提供を通じて、顧客から選ばれるサプライヤーとなるための取り組みを行っている。大野氏はソンウォンインターナショナルジャパンに新設されたポジションに就き、日本市場におけるSongwonの成功と成長計画を実現する上で重要な役割を担う。 

Songwon demonstrates environmental stewardship with its first Sustainability Report

Ulsan, Korea - September 5, 2013 - Songwon Industrial Group (www.songwon.com) is pleased to announce it has completed its first Sustainability Report. The Songwon Sustainability Report is an organizational report that gives information about economic, environmental, social and governance performance and is part of a systematic sustainability reporting initiative that gives comparable data, with agreed disclosures and metrics.

Songwon Industrial Group announces stable gross profit development for first half of 2013

Key Developments

  • Sales and gross profit margin remain stable despite challenging market conditions
  • Gross profit for the first half year increases 2.4% to 65,570 Mil. KRW compared to the same period in 2012. The adjusted gross profit encompassing capacity variances is significantly higher than in prior half year (+9.5%)
  • Net profit for the first half of 2013 at 8,240 Mil. KRW reflects the solid gross profit performance offset by a range of factors, including increased investments in the expansion of the Group and in performance improvement measures leading to higher SG&A expenses, unfavorable FX impacts as well as higher tax expenses due to expected increasing profits in Korea.

Songwon assigned credit rating is upgraded to BBB+ based on solid business results, growth and stability

Ulsan, Korea - August 19, 2013 - Songwon Industrial Co., Ltd. (www.songwon.com) announces that two key Korean rating agencies, Korea Investors Service and Korea Ratings Corporation have assigned the company with BBB+. Songwon's credit outlook is rated as 'Stable' supported by its solid business foundation, good cash generation capacity and financial reserves for planned investments. (Source Korea Investors Service)

Songwon announces global price increases for its range of Polymer Stabilizers and Specialty Antioxidants

Ulsan, Korea - July 18, 2013 - Songwon Industrial Co., Ltd. (www.songwon.com), a leading developer and manufacturer of Polymer Additives, will increase the global selling prices of its Polymer Stabilizers and Specialty Antioxidants products. The increase will range between 5% and 8% effective on orders received on or after August 15, 2013, or as contracts allow.

Songwon has appointed Cord Manegold as Global Business Manager Main Antioxidants and Blends

Cord Manegold, Songwon’s newly appointed global Business Manager Main AO’s and Blends. (Photo: Songwon Industrial Co., Ltd.)Ulsan, Korea - July 3, 2013 - Songwon Industrial group (www.songwon.com) has appointed Cord Manegold as Global Business Manager for Main Antioxidants and Blends, a position he started as of July 01, 2013.