Songwon accelerates its international expansion

Butti: Market was receptive to Songwon's strategy. Songwon Industrial (Ulsan, Korea), the second-biggest producer of polymer stabilizers, behind BASF, has made rapid progress since 2005, when the company switched strategies and decided to become an international player. Songwon had, until then, been focused on the Korean market. The company’s overseas expansion fueled a rapid increase in sales with revenues more than doubling between 2005 and 2011, to reach $543 million last year. The company projects sales of $650 million in 2012 and is aiming for sales of...

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