SONGWON announces new Chairman and changes to its Board

Songwon Industrial Co., Ltd., today announced that Mr. Dongbek Park was appointed as new outside Director of the Board of Directors at SONGWON’s Annual General Shareholders’ Meeting held in Ulsan, Korea, on March 18. In its subsequent Board meeting, the Board of Directors appointed Dongbek Park as SONGWON’s new Chairman of the Board.

SONGWON delivers strong result for FY 2021

SONGWON Industrial Group today released its financial results for FY 2021. In Q4/2021, revenues continued to grow and totaled 283,475 Million KRW on December 31, 2021, marking a 39.1% increase when compared to the same quarter of 2020 (Q4/2020: 203,843 Million KRW). The net profit of 26,100 Million KRW for Q4/2021 amounted to a record 765.7% rise over the net profit achieved in the final quarter of 2020 (3,015 Million KRW). SONGWON ended 2021 strongly, achieving overall consolidated sales totaling 998,190 Million KRW, 23.6% higher than the previous year (FY 2020: 807,768 Million KRW).

SONGWON announces departure of its Leader Group Commercial

Songwon Industrial Co., Ltd. today announced that Elena Scaltritti, Leader Group Commercial, will be leaving the organization to pursue another professional opportunity outside the SONGWON Group.

SONGWON enters exclusive Coatings distributorship with TCL Hofmann for Australia and New Zealand

Songwon Industrial Co., Ltd., announced today that it has entered an exclusive distributor partnership with TCL Hofmann for its Business Unit (BU) Coatings.

SONGWON invests in capacity expansion for semiconductor chemicals production

Today, Songwon Industrial Co., Ltd. announced that it is investing in expanding its chemical production capacity for semiconductors.

SONGWON reports robust Q3 2021 results

SONGWON Industrial Group today released its financial results for the 3rd quarter of 2021. During Q3/2021, the Group achieved consolidated sales of 260,137 Million KRW marking a 33.2% rise in revenue over sales recorded in the same quarter of the previous year (195,237 Million KRW). The Group reported a net profit of 20,972 Million KRW for the 3rd quarter which was more than double the result achieved in Q3/2020 (8,746 Million KRW).

SONGWON announces global price increases for its phosphorous based polymer stabilizers

Songwon Industrial Co., Ltd. today announced global price increases for its phosphorous based polymer stabilizer products to reflect the sudden rise in raw materials costs. The price increases are effective immediately for SONGWON’s phosphites antioxidants: SONGNOX® 1680, SONGNOX® 6260 and SONGNOX® PQ (including subsequent blends) as well as SONGSORB® 7120.

SONGWON Industrial Group announces solid Financial Results for Q2/2021

Today, SONGWON Industrial Group published its audited Q2 and half-year financial results for the 2021 financial year. Over the quarter, the Group achieved consolidated sales of 232,091 Million KRW marking a 17.1% increase in revenue over the same quarter of the previous year. Year-to-date (YTD), the Group realized consolidated sales of 454,578 Million KRW, representing an 11.2% rise over YTD June 2020 (408,688 Million KRW), and recorded a net profit of 24,137 Million KRW delivering a 45.4% increase over the same reporting period in the previous year (YTD June 2020: 16,604 Million KRW). In addition, the Group’s gross profit margin achieved in Q2/2021 was 22.5% and YTD 22.0% reflecting an increase of 1.4%-points and 1.6%-points over the prior year comparable period.

SONGWON and SABO extend their long-standing partnership

Songwon Industrial Co., Ltd. is pleased to announce today that the worldwide exclusive distributorship (non-exclusive for Europe) with SABO S.p.A. for the SABOSTAB® HALS portfolio which includes hindered amine light stabilizers (HALS) and oxanilide UV Absorbers has been extended.

SONGWON’s distribution partnership with MegaChem expanded

SONGWON’s distribution partnership with MegaChem expanded.
(Photo: Songwon Industrial Co., Ltd.)Songwon Industrial Co., Ltd. announced today that it has expanded its distribution partnership with MegaChem. Since September 2019, MegaChem has been the exclusive distributor of SONGWON’s antioxidants for fuels and lubricants in the ASEAN region. On the back of the success in these countries, SONGWON has extended MegaChem’s coverage to include Australia and New Zealand (ANZ).

SONGWON Industrial Group announces Financial Results for Q1/2021

SONGWON Industrial Group (www.songwon.com) today released its audited financial results for the 1st quarter of the year, ended March 31st, 2021. Following the surge in demand observed at the end of 2020, especially from customers in Asia, SONGWON entered the new fiscal year positively with demand continuing to rise across its markets. During Q1, the Group achieved consolidated sales of 222,487 Million KRW. When compared to sales in Q1/2020 (210,543 Million KRW), this marked a 5.7% increase in revenue. In addition, SONGWON’s gross profit margin reached 21.6% (Q1/2020:19.7%) in Q1/2021 and a decrease in net profit (Q1/2021: 9,164 Million KRW) of 18.0% was recorded over Q1/2020 (11,182 Million KRW) due to the anticipated losses recognized in March 2021 related to the sale of 72% interest in Qingdao Long Fortune Songwon Chemical Co., Ltd. with effective date as of April 30, 2021.

SONGWON establishes new entity in China

Songwon Industrial Co., Ltd., announces the establishment of its new business entity in China, SONGWON International-Qingdao Co., Ltd. The new organization will ensure that SONGWON remains well-positioned to continue providing customers in this important strategic region with high quality products and service.

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