ULSAN, South Korea (Oct. 29, 2014) — Korean polymer additive producer Songwon Industrial Co. Ltd. and its distributor, United Trading Systems, have signed a long-term supply agreement with Russian petrochemical company OAO Sibur Holding.
According to the agreement announced Oct. 24, Songwon and UTS will supply Sibur with additives used to make synthetic and thermoplastic rubbers, polypropylene, polyethylene and polyvinyl chloride. Songwon also will provide SIBUR with technical support for stabilizers in end-use applications, according to a Songwon.
As part of the pact, Songwon and SIBUR will collaborate in developing and implementing joint projects designed to improve polymer properties, Songwon said. At least some of these projects will be performed at Songwon's South Korean research and development center, it said.
Based in Ulsan, Songwon is the second-largest manufacturer of polymer stabilizers in the world, according to its website.