(4-traders) -- Songwon Industrial Group has announced it has acquired Additives Technology Greiz (ATG), one of Europe's largest manufacturers of One Pack Systems (OPS) products for the polymer industry. ATG's manufacturing plant is located in Greiz (Germany) and has produced dust free polymer additive packages since 2006. The terms of the acquisition were not disclosed.
One Pack Systems (OPS) products combine several additives into an integrated dust free, pellet form. Songwon's OPS products, which are sold under the Songnox OPS brand, are custom formulated and offer a number of key advantages such as uniformity and certified composition.
The market for OPS has been enjoying consistent growth as compounders and polymer producers continuously search for added value and more efficient production technology. Demand for Songnox OPS has increased in applications which require highly dispersed additives that result in improved product performance.
"This acquisition is a landmark step for Songwon", stated Jongho Park, Chairman and CEO of Songwon Industrial Group. "We promised our customers that we would meet their demands and we will now be able to deliver Songnox OPS in significant volumes immediately with the ability to expand the annual capacity up to 12.000 tons in the future. Our customers will also benefit from a broader range of technologies which we will combine with our own expertise to deliver new and more cost effective solutions based on our fully backward integrated stabilizer production."