Songwon forms a strategic cooperation with W. Zink GmbH to deliver One Pack Systems in Europe

Ulsan, Korea, November 19, 2007 – Songwon is pleased to announce the cooperation with W. Zink GmbH of Jettingen-Scheppach, Germany, which combines the strength of each partner to deliver both the quality and the quantity in One Pack Systems (OPS) that the European market demands. This will allow Songwon’s customers to have immediate access in Europe to several thousand tons of capacity based on a range of technologies.

As Maurizio Butti, CEO and President of Songwon International, was keen to point out. “We see significant synergies in our strong technology, manufacturing and product position in additives, and the expertise of W. Zink’s capability to deliver OPS in different physical forms. The second step of our cooperation, currently under development, will be to establish a brand new world scale facility which we expect to be ready in 2008”.

The cooperation is part of Songwon’s strategy to establish direct channels to market and meet specific regional needs.

The OPS business shows consistent growth in demand for a number of very sound reasons. Health and safety is a key benefit as the product is non-dusting. Secondly, as the products are compositionally controlled and certified, the feeding and formulation accuracy in use is significantly improved compared to powder processing. This also contributes to their cost effectiveness as the tolerances can be controlled accurately and the total process from order to delivery is significantly more efficient. OPS technologies further allow performance enhancements such as melting point suppression.

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