South Korean additives supplier Songwon Industrial and its distributor United Trading System (UTS) have signed a long-term cooperation agreement to supply the Russian petrochemical company, Sibur with additives used in polypropylene, polyethylene, rubbers, thermoplastic rubbers and PVC. Under the agreement, Songwon will also provide Sibur with technical support for stabilizers in end-use applications.

The agreement will be effective until the end of 2015 and was signed by Dieter Morath, Executive Vice President of Songwon International AG, Lars Hjorth, Managing Director of UTS Scandinavia AB and Sibur's Kirill Maksimov, Director for Chemicals Procurement.

As part of the cooperation, the parties will also engage in developing and implementing joint projects aimed at improving polymer properties. Some of the projects planned will draw from the capabilities and expertise available at Songwon’s R&D Centre in South Korea.

Commenting on the cooperation, Dieter Morath said: “By leveraging Songwon's technical service excellence, we can develop on-demand and provide our customer SIBUR with products that help improve the quality of their end products and protect polymers from temperature, mechanical stress, UV radiation and other exposures.”

“This agreement brings both of our organizations a promising opportunity for growth”, added Kirill Maksimov. “Combining our industrial know-how and performance will enable us to deliver value to all of our stakeholders.”

With headquarters in Ulsan, Korea, the Songwon Industrial Group comprises 17 companies including 2 joint ventures and 1 representative office, located in 9 different countries on 3 continents. The company has 7 manufacturing facilities, 3 of which are located in Korea, Germany, China, USA, India as well as a manufacturing JV plant in China. Songwon also has a worldwide network of sales and customer service offices, logistics hubs and stocking distributors.