South Korean chemical producer Songwon and German electronics specialist Heraeus have signed an agreement to jointly develop and market high-end specialty chemicals for the global electronics industry. Songwon will contribute its expertise in R&D and chemical manufacturing and Heraeus its  technical capabilities in the electronics sector to the partnership, which the two companies hope will broaden their access to the global electronics market.

The agreement additionally foresees Songwon manufacturing and Heraeus marketing any products emerging from the cooperation.

Ralf Droste, Heraeus’ president New Businesses, said the German company already offers numerous high end products such as conductive polymers and printing pastes for printed electronics, including touch screens. A deal with Songwon will allow it to further broaden its offerings to by leveraging the Korean company’s know-how and world-class manufacturing facilities, he added.

Songwon’s location in the heart of the Asian electronics industry and its long tradition of manufacturing high-end specialty chemicals will benefit the undertaking, said Maurizio Butti, CEO of Songwon Industrial Group. This together with Heraeus’ sales network and position in the electronics sector will enable the companies to jointly build strong relationships with key players, he said.