South Korean additives producer Songwon (Ulsan; www.songwonind.com) is to purchase the polymer stabiliser business of pharmaceuticals company SeQuent Scientific (Bangalore / India; www.sequent.in). The acquisition includes a production site in Panoli, Gujarat / India, together with the local R&D team. The companies expect to complete the deal in Q3 2014. Financial details were not disclosed.

Jongho Park, Songwon’s chairman and CEO, said the deal strengthens the company’s polymer stabiliser business in the fast growing Indian market. “The production site in Panoli gives Songwon access to a state-of-the-art manufacturing facility to produce high value-added polymer stabilisers such as Songnox PEPQ and other specialty chemicals,” he added.

Songwon plans to invest in and develop the Panoli facility, which will supply the global customer base as well as the domestic market.