SONGWON wins Frost & Sullivan’s 2016 New Product Innovation Award

Ulsan, Korea – October 20, 2016 – SONGWON Industrial Co., Ltd. (www.songwon.com) announced today that it has been honored with a 2016 New Product Innovation Award by Frost & Sullivan for its commitment to innovation in the polymer stabilizers market.

Each year, the global consulting company Frost & Sullivan presents the New Product Innovation Award to a company that has developed an innovative element in a product by leveraging leading-edge technologies. The decision to give SONGWON the award was based on Frost & Sullivan’s independent analysis and evaluation of two key factors — New Product Attributes and Customer Impact.

The recent analysis carried out by Frost & Sullivan clearly revealed that SONGWON demonstrates great commitment to innovation and differentiation in the European polymer stabilizers market. The company’s analysts acknowledged that SONGWON’s proactive development of new stabilizer packages such as SONGXTEND® 1301 for XPS with new polymeric flame retardants (pFR), was a testament to the organization’s excellent product innovation and business development strategy.

SONGWON’s customer-oriented approach to product development was also recognized by Frost & Sullivan. The company found that while SONGXTEND® 1301 exemplified SONGWON’s innovation approach with regard to regulatory guidelines, its SONGNOX® PQ SB (the semi-bead version of the SONGNOX® PQ antioxidant) was an excellent example of SONGWON’s product development in response to the customers’ need for greater handling control and cleaner workspaces. Another example highlighted by Frost & Sullivan was the SONGNOX® 1162 FF triple blend, containing SONGNOX® PQ, created SONGWON to meet customer demand for biaxially oriented polypropylene (BOPP) applications.

“We’re very pleased to receive this Frost & Sullivan award,” says Maurizio Butti, CEO, SONGWON Industrial Group. “At SONGWON, we have always been driven by customer-focused innovation and motivated by the positive impact of our products and solutions on our customers’ businesses.”

About SONGWON Industrial Co., Ltd.
SONGWON, which was founded in 1965 and is headquartered in Ulsan, South Korea, is a leader in the development, production and supply of specialty chemicals. The second largest manufacturer of polymer stabilizers worldwide, SONGWON operates group companies all over the world, offering the combined benefits of a global framework and readily accessible local organizations. Dedicated experts work closely together with customers to develop tailor-made solutions that meet individual requirements.
For further information, please go to: www.songwon.com.

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This release was published on openPR.