Songwon signs up with 2 ME companies

This follows the signature of a Memorandum of Understanding (MoU) among the three partners announced on December 14, 2011. Songwon Additives Technology AG, a holding company based in Switzerland, owns 100% of Songwon ATG GmbH (formerly Additives Technology Greiz GmbH (ATG)), one of Europe’s largest manufacturers of One Pack Systems (OPS), and is at an advanced stage of establishing manufacturing companies in the Middle East and United States. In addition Songwon Additives Technology AG will establish a wholly owned subsidiary, Songwon Additives Technology Middle East, for the sale of Songnox? OPS and other Songwon products. Sales of Songnox? OPS in the rest of the world will be channeled through the existing Songwon sales and distribution network.

Maurizio Butti, Chief Operating Officer and Member of the Songwon Industrial Group Executive Committee, said that the newly-formed joint venture will accelerate the establishment of Songwon's global OPS network, in particular capitalising on its partners’ expertise in the Middle East which is rapidly becoming the key region for OPS. www.songwonind.com