SONGWON
German one pack systems producer Additive Technology Greiz acquired
In a deal whose financial terms were not disclosed, Songwon Industrial (Ulsan / Korea; www.songwonind.com) has announced the acquisition of one pack systems (OPS) producer Additive Technology Greiz (ATG, Kerpen / Germany; www.additive-technology-greiz.com). The purchase allows Songwon to start supplying its proprietary “Songnox” OPS to customers in larger volumes immediately. In addition, Songwon Industrial CEO Jongho Park said the acquisition opened the door to raising annual capacity by up to 12,000 t/y in the future. One pack systems combine several additives into an integrated, dust-free pellet form.
 ATG's main production plant in Greiz / Germany (Photo: Songwon) |
Founded five years ago, ATG produces dust-free polymer additive packages at its plant in Greiz / Germany. According to previous shareholder Peter Schmitt-Freise, the German company has enjoyed double-digit annual growth rates, constantly expanding its market share. Schmitt-Freise added that in order for ATG to continue on its growth track, it needs a strategic partner like Songwon, to benefit from a global reach and sales network, expertise and back integration in antioxidant production.
14.12.2011 Plasteurope.com [221088-0]
Published on 14.12.2011
German version of this article...