Songwon announced on 7 December that prices for all its products will be raised by 2-5 %, depending on business line and region. The company said that these price increases are a consequence of the sudden escalation of freight rates that took place on most routes. The new prices are effective as of 1 January 2021, or as contracts allow.
Headquartered in South Korea, Songwon is the 2nd largest manufacturer of polymer stabilisers worldwide. The group also supplies a broad range of polyurethane-based products, among these thermoplastic polyurethanes (TPU) under the brand name Songstomer.