Songwo, Sabo join forces to establish global presence for Light Stabilizers for the Polymer Industry 

(MENAFN Press) Ulsan, Korea “ October 10, 2012 “

Songwon is pleased to announce it has entered into long term distribution arrangements with Sabo SpA representing a further milestone in its long-term strategic ambition to be a leading supplier of polymer stabilizer solutions to the global polymer industry. Sabo SpA, based in Levate, Italy, is a leading producer of monomeric and polymeric HALS (Hindered Amine Light Stabilizer) and enjoys a reputation as a supplier of high quality products and a provider of innovative solutions.

The distribution agreements, which are largely in effect since September 1, 2012 are concluded for the long term whereby Songwon distributes Sabo's HALS product range of light stabilizers on a global basis. Songwon will closely cooperate with Sabo on the regional HALS-markets outside Europe where both of them see big potential for growth. However, on the European HALS-market Songwon and Sabo will act strictly independent from each other whereby Songwon will be free in distributing Sabos as well as other HALS products.

Both companies will also contribute their technology and expertise to develop future solutions that meet customers' demands for innovative and high performance light stabilization packages solving challenges in outdoor applications for polymers.

"As a globally leading supplier of polymer stabilizers to the polymer industry, we have secured an ideal partner in Sabo," said Jongho Park, Chairman and CEO and Head of the Songwon Industrial Group Executive Committee. "Like Songwon, Sabo is committed to be a partner of choice in supplying high performance products to the polymer industry and have an ambition to expand their geographical footprint to a truly global presence. The Sabo product range and production capabilities are an excellent fit with Songwon's global sales and distribution network and the customer intimacy that we enjoy. The distribution agreements are a significant strategic commitment for both parties to develop a leading position in the fast growing light stabilizer markets outside Europe."

Germano Peverelli, Managing Director Sabo, said: "These distribution agreements are excellent news for our customers. They extend our reach and provide support locally, and to all key customers along the value chain, particularly in non-European regions which would have been otherwise more restricted. Our joint capabilities will drive significant growth in these regions as our broader customer reach will allow us together with Songwon to meet the market needs now and in the future."