Songwon acquires Sequent's specialty chemicals business
Mary Page Bailey
Songwon Industrial Co. (Ulsan, Korea; www.songwon.com) and SeQuent Scientific Limited (Bangalore, India; www.sequent.in) have signed an agreement whereby Songwon will acquire SeQuent's specialty chemicals business. The acquisition includes SeQuent's entire polymer stabilizer business and one production site in Panoli, Gujarat, India, together with the local research and development team. The parties expect the transaction to be closed in the thir quarter of 2014, subject to few customary closing conditions. Financial details of the transactions were not disclosed.