18 June 2010 15:33 [Source: ICIS news]
Bain acquired Styron in a $1.63bn (€1.32bn) deal that closed on Thursday. Dow would retain a 7.5% stake in Styron.
"Styron is a brand new global materials company that stands on seven decades of heritage - built upon a history of strengths in technology, application expertise, operations excellence, innovation and global reach," said Styron chief executive Christopher Pappas. Pappas previously served as chief executive of ?xml:namespace>
Styron includes Dow’s polycarbonate (PC), acrylonitrile butadiene styrene (ABS)/styrene acrylonitrile (SAN) resins, polystyrene (PS) and styrene monomer operations, as well as the company’s stake in the Americas Styrenics joint venture with Chevron Phillips Chemical.
Styron reported $3.7bn in revenue based on 2009 data. It has plants at 20 sites in 13 countries, and employs a staff of 1,900.
($1 = €0.81)
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