South Korean Antioxidants Producer Completes $120 Million Grassroot Plant and Contemplates Expansion

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Researched by Industrial Info Resources (Sugar Land, Texas). Songwon Industrial Company, Limited (Ulsan, South Korea) recently finished a major expansion of its antioxidants production capability by completing construction of a grassroot facility in Maeam, Korea. The $120 million site will produce 35,000 metric tons per year of antioxidants lifting the company’s overall production rate to 55,000 metric tons per year. The new plant began production in April of this year.

The company is prepared to double the production capacity to approximately 80,000 metric tons per year at the Maeam plant should the market demand. The facility was constructed with this in mind, reflecting Songwon’s intent on holding its market share and remaining one of the largest producers of antioxidants in the world, which it has produced since mid-1980s. Jong Ho Park, Chairman and CEO of Songwon, also added that the new facility will ensure that the company will always have a production plant running should any unforeseen shutdowns occur at the Ulsan site or vice versa.

One of the features of the new plant is its back integration into raw materials and intermediates. This alone benefits an increased value shoring up the supply, quality and overall efficiency. Songwon is also dedicated to the environment, which it refers to as its “environmental stewardship,” by contributing its waste recycling to its total energy consumption.

Songwon also produces amine light stabilizers, ultraviolet light absorbers, heat stabilizers, plasticizers, lubricants, surface coating agents, polyurethane, alkyl phenols, biphenol, and flocculants.

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