Songwon forms JV with QLF

摘要

Songwon Industrial Group has formed a joint venture (JV) with Qingdao Long Fortune Chemical & Auxiliary (QLF) to manufacture and market polymer stabilisers in China. The companies have signed a JV agreement, which will see the production and sale of Songwon's one pack systems (OPS) and polymer stabilisers. Planned for the Qingdao area of Eastern China, the JV aims to become a preferred supplier to the country's polymer industry. Under the agreement, investments will be made into a new OPS plant based in the Pingdu County industrial park. Construction on the plant is expected to begin in the end of Q2-2015 with operation scheduled to start by the end of Q1 -2016.