Songwon Additive, Polysys locate OPS plant in Abu Dhabi

Songwon Additive, Polysys to locate OPS plant in Abu Dhabi

12:01 PM, 29th November 2012
Songwon Additive, Polysys to locate OPS plant in Abu Dhabi

ULSAN, KOREA: Songwon Additive Technologies AG and Polysys Industries will establish a new company Polysys Additive Technologies ME, which will build an one pack systems (OPS) manufacturing plant in Kizad (Khalifa Industrial City), Abu Dhabi. This follows the announcement of the establishment of Songwon Additive Technologies AG, a joint venture between Songwon Industrial Group, Pan Gulf Holding Company of Saudi Arabia and Polysys Industries of Abu Dhabi, for the manufacture and sale of Songnox OPS.

“The new plant will have an initial capacity of approximately 7.000 metric tonne. However it will be designed to take into consideration increasing demand in the future, and we expect that construction will be completed in approximately 12 months. This is a very important step for Songwon Additive Technologies AG and the Songwon Industrial Group in the development of our global OPS footprint and the capacity expansion which has already been implemented,” said Maurizio Butti, Chief Operating Officer, Member, Industrial Group Executive Committee, Songwon.

“We can offer customers access to OPS based on the same technology, level of reliability and service which has supported the growth of Songwon Industrial Group in the polymer stabilizer market. The Middle East already represents a key market for OPS and Polymer Stabilizers and we expect this position to grow significantly in the near future,” said Butti.

“This Joint Venture is fully in line with our strategy to develop businesses which support the fast growing regional petrochemicals industry with local supply of critical components and raw materials. Having already created a global partnership through Songwon Additive Technologies AG, this brings important synergies in terms of access to technologies, raw materials and multi regional customers,” said Mohamed Al Muhairi, Board Chairman, Polysys Industries LLC.

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