Press release
Songwon Industrial Group acquires the Specialty Chemicals Division of SeQuent Scientific Limited
Songwon Industrial Group, Korea and SeQuent Scientific Limited, India – April 24, 2014 – Songwon Industrial Group and SeQuent Scientific Limited have signed an agreement whereby Songwon will acquire SeQuent's specialty chemicals business. The acquisition includes SeQuent's entire polymer stabilizer business and one production site in Panoli, Gujarat, together with the local R&D team. The parties expect the transaction to be closed in Q3, 2014, subject to few customary closing conditions.Financial details of the transactions were not disclosed.
Jongho Park, Chairman, CEO and Head of the Songwon Industrial Group Executive Committee, commented: “This acquisition is another milestone in Songwon’s commitment to be a reliable partner to the polymer industry, strengthening our position as a leading supplier of polymer stabilizers in one of the fastest growing polymer markets. The local manufacturing presence will support Songwon’s ambition to build a leading position in India while serving the specific needs of the Indian market. The production site in Panoli gives Songwon access to a state of the art manufacturing facility to produce high value-added polymer stabilizers such as SONGNOX® PEPQ and other specialty chemicals. Songwon is committed to invest in Panoli to develop the full potential of the site as part of its global manufacturing footprint. Besides serving the domestic market Songwon will also export these products to its global customer base. Next to the production assets Songwon is also excited to leverage the extensive experience and high level of competence of the local R&D team.”
Manish Gupta, CEO of SeQuent Scientific Limited, commented: “This is a major step towards steering SeQuent to a path of creating value for its various stake-holders. The speciality chemicals business while profitable, had become non-core in SeQuent’s stated vision to become a leading player in global veterinary business. The proceeds will be utilized to pare down debt and also provide growth capital in expanding the strategic intent of SeQuent.”
About Songwon Industrial Co., Ltd.
Songwon Industrial Co., Ltd. is a leading producer and seller of SONGNOX® Antioxidants, SONGNOX® One Pack Systems, SABO®STAB Hindered Amine Light Stabilizers, SONGSORB® Ultraviolet Light Absorbers, SONGXTEND™ Stabilizer Solutions, SONGSTAB™ Acid Scavengers, SONGSTAB™ PVC Stabilizers, SONGCAT™ Tin Intermediates, SONGCIZER™ Plasticizers for the plastics industry, as well as lubricants, surface coating agents, polyurethane, alkyl phenols, flocculants and other chemicals. The Songwon Group of Companies includes Songwon Industrial Co., Ltd., Songwon Holdings AG, Songwon International AG, Songwon International – Japan K.K., Songwon China Ltd., Songwon Industrial Co. Ltd. Representative Office Bahrain, Songwon Additive Technologies AG, Songwon Additive Technologies-Americas Inc., Songwon ATG GmbH, Songwon International – Americas Inc., Songwon International – India Pvt. Ltd., Songwon Trading Co. Ltd, Songwon Chemicals Co. Ltd. and Songwon Baifu Chemicals (Tangshan) Co., Ltd., Songwon Additive Technologies - Middle East FZE, Polysys Additive Technologies – Middle East LLC and Chemservice Asia Co. Ltd.
SONGNOX and SONGSORB are registered trade marks of Songwon Industrial Co., Ltd.
SONGCAT, SONGCIZER, SONGSTAB and SONGXTEND are trade marks of
Songwon Industrial Co., Ltd.
SABOSTAB is a registered trade mark of Sabo S.p.A.
Salient in Additives
Salient from the Latin Verb ‘salire’ to leap or leaping. As an adjective, meaning the most noticeable, prominent or important. Salient Songwon, leaping ahead in the world of Polymers; a prominent global supplier of chemical additives.
About SeQuent Scientific Limited.
SeQuent Scientific Limited, listed on the Bombay Stock Exchange Limited (stock code: 512529) is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. SeQuent is the world's largest producer of Anthelmintics.
Please visit www.sequent.in for additional information.
Marketing Solutions
Stephanie Wakkee
Box 6
2950
Kapellen
Belgium
0031164317012
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Songwon Industrial Group acquires the Specialty Chemicals Division of SeQuent Scientific Limited here
News-ID: 286562 • Views: …
More Releases from Songwon Industrial Co., Ltd.
SONGWON invests in capacity expansion for semiconductor chemicals production
Ulsan, South Korea – November 19, 2021 – Today, Songwon Industrial Co., Ltd. announced that it is investing in expanding its chemical production capacity for semiconductors.
As the 4th Industrial Revolution progresses, demand for semiconductors is rising rapidly and with it, customer demand for high-end specialty chemicals and raw materials for IT industries (incl. semiconductors) as well as display materials is growing significantly. SONGWON’s capacity increase investment in the main chemicals…
SONGWON enters two new distribution agreements with Bodo Moller Chemie
Ulsan, South Korea - May 19, 2020 - SONGWON Industrial Co., Ltd. announced today that it has signed two exclusive distribution agreements for the distribution of its comprehensive range of polymer stabilizers: Bodo Moller Chemie Benelux N.V. has been supplying customers in Belgium, Luxemburg and the Netherlands since January 1, 2020, and Bodo Moller Chemie UK Ltd took on responsibility in the United Kingdom and Ireland on May 1.
Based in…
SONGWON deeply saddened by unexpected death of CEO Maurizio Butti
Ulsan, South Korea – September 10, 2019 – The Board of Directors of SONGWON Industrial Group announced today, with deep sadness, the unexpected death of the company’s CEO, Maurizio Butti on Saturday, September 7th, 2019.
Commenting, Jongho Park, Chairman of the Board said: “The entire SONGWON family mourns the sudden loss of our CEO. With the organization since 2006, Maurizio was an inspiring leader, managing the company with humor, integrity and…
SONGWON announces new appointments in key leadership positions
Ulsan, South Korea – April 02, 2019 – SONGWON Industrial Co., Ltd. today announced leadership changes which enhance and expand the Company’s management team and optimally position the organization for continued value creation.
Elena Scaltritti assumes the position as Division Leader of Industrial Chemicals for SONGWON which includes the Polymer Stabilizers and Fuel and Lubes businesses. She has also been appointed a member of the Executive Committee. Gerard Mulqueen will…
More Releases for SeQuent
Oral Proteins and Peptides Market Revenuefactsstatastics By 2026 Sequent Scienti …
The global Oral Proteins and Peptides market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Oral Proteins and Peptides market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and…
Global Tokenization Solution Market 2020 First Data, IP Solution International, …
The global Tokenization Solution market report describes a systematic image of the Tokenization Solution market by utilizing various strategies, methods, and raw data collection from multiple resources. The market report incorporates the study of the entire buyer-seller state along with a detailed analysis of the strong contenders ruling the market First Data, IP Solution International, Fiserv, Visa, Sequent Software, Merchant Link, Carta Worldwide, Protegrity, Verifone, Symantec, CipherCloud, Rambus, Ingenico ePayments,…
Global Neuroendovascular Coil Market Forecast 2018-2025 Codman, Penumbra, Stryke …
A detailed market study on "Global Neuroendovascular Coil Market" examines the performance of the Neuroendovascular Coil market. It encloses an in-depth Research of the Neuroendovascular Coil market state and the competitive landscape globally. This report analyzes the potential of Neuroendovascular Coil market in the present and the future prospects from various angles in detail.
The Global Neuroendovascular Coil Market 2018 report includes Neuroendovascular Coil market Revenue, market Share, Neuroendovascular Coil industry…
Albendazole Market 2018 Global Analysis By Key Players – GlaxoSmithKline, Huaz …
Summary
WiseGuyReports.com adds “Albendazole Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
This report provides in depth study of “Albendazole Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Albendazole Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product…
Global Farm Animal Drugs Market 2018 - Sequent Scientific, Virbac SA, Vetoquinol …
Apex Market Reports, recently published a detailed market research study focused on the “Farm Animal Drugs Market” across the global, regional and country level. The report provides 360° analysis of “Farm Animal Drugs Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Farm…
Global Albendazole Market 2017 - GlaxoSmithKline, CHANGZHOU YABANG, Huazhong Pha …
Global Albendazole Industry 2017 is a comprehensive, professional report delivering market research data that is relevant for new market entrants or established players. Key strategies of the companies operating in the market and their impact analysis have been included in the report. Furthermore, a business overview, revenue share, and SWOT analysis of the leading players in the Albendazole market is available in the report.
Combining the data integration and analysis capabilities…
