Songwon Industrial and Tangshan Baifu Chemical have formalized their joint venture relationship. The new company is called Songwon Baifu Chemicals (Tangshan) and has commenced its operations on July 1, 2012.

With a production capacity of 8.000 metric tons of thioester antioxidants, and the required key intermediate capacity Songwon Baifu Chemicals (Tangshan) is now fully integrated into Songwon's global operational processes.