Katalog firem Industry-EU s.r.o.

Ulsan, Korea – October 16, 2012 – Today, Songwon Industrial Group, Pan Gulf Holdings of Saudi Arabia and Polysys Industries of Abu Dhabi proudly announce the establishment of their Joint Venture, Songwon Additives Technology AG, for the manufacture and sale of Songnox^® OPS. This follows the signature of a Memorandum of Understanding (MoU) among the three partners announced on December 14, 2011. (Link to the press release).

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, stated: “Songwon has established a leading position in the global polymer stabilizers market and is committed to grow and extend its offering and services to the polymer industry. A global network with regional OPS manufacturing units will be a cornerstone to this strategy. A strong European presence has already been established through the acquisition of ATG and the subsequent expansion of its production capacity, announced on October 04, 2012. (Link to the press release). The newly-formed Joint Venture will accelerate the establishment of our global OPS network, in particular capitalizing on our partners’ expertise in the Middle East which is rapidly becoming the key region for OPS.”

Jongho Park, Chairman and CEO and Head of the Songwon Industrial Group Executive Committee, added: “We are proud and pleased to partner with Pan Gulf and Polysys with whom we share common values and goals. Their interest in entering into a global business venture with Songwon is a statement of confidence in our ability to deliver and our commitment to the polymer industry.”

Khalid Al Hamdan, Managing Director of Pan Gulf Holding Company W.L.L., added: “This Joint Venture with Songwon is an important addition to the already existing portfolio of Pan Gulf services for the petrochemical sector in the Gulf, and fits our strategy of introducing the latest technical innovation to our clients. We are proud to be associated with Songwon to offer this innovative OPS service globally.”

In conclusion, Mohamed Al Muhairi, Chairman of the Board of Polysys Industries LLC., commented: “Through this partnership Polysys Industries has taken an important step in building it’s presence in the Petrochemicals value chain. Songwon is already one of the major global suppliers of polymer stabilizers to the polymer industry and we are excited to work with our partners to develop a leading joint position in the OPS business.”

About Songwon Industrial Co., Ltd.

Songwon Industrial Co., Ltd. is a leading producer and seller of Songnox^® Antioxidants, Songnox^® One Pack Systems, Sabostab^® and Songlight^® Hindered Amine Light Stabilizers, Songsorb^® Ultraviolet Light Absorbers, Songstab™ Acid Scavengers, Songstab™ PVC Stabilizers, Songcat™ Tin Intermediates, Songcizer™ Plasticizers for the plastics industry, as well as lubricants, surface coating agents, polyurethane, alkyl phenols, biphenol, flocculants and other chemicals. The Songwon Group of Companies includes Songwon Industrial Co., Ltd., Songwon Holdings AG, Songwon International AG, Songwon International – Japan K.K., Songwon China Ltd., Songwon Industrial Co. Ltd. Representative Office Bahrain, Songwon Additive Technologies AG, Songwon ATG GmbH, Songwon International – Americas Inc., Songwon International – India Pvt. Ltd., Songwon Trading Co. Ltd, Songwon Chemicals Co. Ltd. and Songwon Baifu Chemicals (Tangshan) Co., Ltd.

Songnox, Songsorb and Songlight are registered trade marks of Songwon Industrial Co., Ltd.

Songcat, Songcizer and Songstab are trade marks of Songwon Industrial Co., Ltd.

Sabostab is a registered trade mark of Sabo S.p.A.

About Pan Gulf Holding

Established in 1978, the Pan Gulf Group is a privately owned group of companies with business activities that covers manufacturing, services, and trading catering mainly to the oil, gas, petrochemical and chemical sectors in Saudi Arabia and GCC markets. The group manages its activities through 9 operating companies with 3000 total employees, and has been achieving high turnover growth rate over the last five years. It is a major regional steel fabricator, and a leader in designing, supplying, and installing complex fire protection and detection systems for the oil and petrochemical industries.

The group operates distribution and service centers for various well known international brands, and has formed successful manufacturing joint ventures with international companies from Asia, Europe and USA.

About Polysys Industries

Polysys is an Abu Dhabi based newly established entity which belongs to a leading business group in Abu Dhabi. Polysys main objective is to invest in and develop industries and businesses related to the chemical, petrochemical, polymer down streams industries in the Middle East. Its vision is to become a leading industrial developer and investor in petrochemical and polymers related industries. Polysys focuses on identifying the right opportunities and the optimum technologies to provide the right products and services to its clients.

To accomplish its vision, Polysys strategy is to seek the right partnerships with leading international companies in the field and to add value to the joint ventures through its extensive understanding of local industries‘ specific requirements.

Photo Caption

From left to right: Khalid Al Hamdan, Managing Director of Pan Gulf Holding Company W.L.L. – Maurizio Butti, Chief Operating Officer and Member of the Songwon Industrial Group Executive Committee - Mohamed Al Muhairi, Chairman of the Board of Polysys Industries LLC. (Photo: Songwon Industrial Co., Ltd.)

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