2014-2015 Exhibitions
Songwon Industrial Group posted growth in its full 2013 sales and. Citing its financial results, its sales revenues reached more than KRW169 billion for the fourth quarter, an increase of 11.5% on Q4 2012, contributing to total sales of KRW692.164 billion for the full year 2013, an increase of 1.8% compared to 2012.
Songwon says that its core business Polymer Stabilisers contributed significantly to its revenues growth in 2013 , which increased by 12.5% over 2012. This strong performance is based on a particulary strong growth of the new HALS and thioester product groups based on back-integration (joint venture with Tangshan Baifu) and distribution agreements (Sabo).
Moreover, its strategy of exiting from its several business activities that it adjudged as unsatisfactory in terms of competitiveness, sustainability and desired returns”, has resulted in the growth of its underlying core.
(PRA)
