Songwon & Heraeus join forces to develop and market high end specialty chemicals for the electronics industry

Hanau / Ulsan, Korea June 7, 2016

  • Songwon and Heraeus announced today that they have signed a cooperation agreement to jointly develop and market high end specialty chemicals for the electronics industry.

This new co-operation combines Songwon's strong expertise in R&D and chemical manufacturing with Heraeus' technical capabilities and high reputation in the electronics chemical industry broadening both companies' access to the global electronics market.

Highlighting the key aspects of the agreement, Dr Ralf Droste, President Heraeus New Businesses says: "In a partnership it is essential for each partner to bring together their strengths, mutually benefit from one another and increase market opportunities. This co-operation achieves exactly that. As equal partners, we will combine our R&D, market and manufacturing expertise with a long term view and take our business to a whole new level."

Under the agreement, the high end specialty chemicals co-developed for the electronics and semiconductor market will be produced by Songwon and marketed by Heraeus with an already existing portfolio. “By combining our strengths and offering a wide range of high-purity electronic chemicals in all requested volumes from grams to tons we strive to become the partner of choice for customers in the electronics sector”, adds Droste.

Droste points out that Heraeus already offers numerous high end products, such as conductive polymers and printing pastes for printed electronics like touch screens. The co-operation allows Heraeus to further broaden its offerings to this industry based on Songwon’s know-how and world-class manufacturing facilities capable of producing the required quality and quantities of such high end specialty chemicals.

"Being located in the heart of the Asian electronics industry and our long tradition in manufacturing high quality specialty chemicals Songwon is perfectly positioned to contribute to the success of this exciting co-operation." explains Maurizio Butti, CEO, Songwon Industrial Group. "Furthermore, Heraeus' excellent sales network and position in the market will enable us to build together strong partnerships with key players in the electronics industry while meeting their needs and responding quickly to new developments in this fast changing market.”

About Heraeus

Heraeus, the technology group headquartered in Hanau, Germany, is a leading international family-owned company formed in 1851. With expertise, a focus on innovations, operational excellence and an entrepreneurial leadership, we strive to continuously improve our business performance.

We create high-quality solutions for our clients and strengthen their competitiveness in the long term by combining material expertise with technological know-how. Our ideas are focused on themes such as the environment, energy, health, mobility and industrial applications. Our portfolio ranges from components to coordinated material systems which are used in a wide variety of industries, including the steel, electronics, chemical, automotive and telecommunications industries.

In the 2015 financial year, Heraeus generated revenues without precious metals of €1.9 bn and a total revenue of €12.9 bn. With approximately 12,500 employees worldwide in more than 100 subsidiaries in 38 countries, Heraeus holds a leading position in its global markets.

About Songwon Industrial Co., Ltd.

Songwon Industrial Co., Ltd. is the 2nd largest manufacturer of polymer stabilizers in the world with an almost 50 year history of breakthrough solutions. A leader in the development and production of additives and specialty chemicals, Songwon provides added-value products and innovative solutions to the plastics industry.

The company’s extensive product portfolio includes polymer stabilizers, alkyl phenols and alkyl cresols, PVC stabilizers, plasticizers, tin intermediates, polyurethanes, SAP and flocculants.

With headquarters in Ulsan, Korea, the Songwon Industrial Group comprises 16 companies including 2 joint ventures and 2 representative offices, located in 10 different countries on 3 continents. Songwon's products are manufactured across the globe in 9 manufacturing facilities: 3 are located in Korea and the others in Germany, USA, India, and UAE plus 2 JV plants in China, one currently under construction and due for completion in 2016. The company also has a worldwide network sales and customer service offices, logistics hubs and warehouses.

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