Styron launches as global stand-alone company

18 June 2010 15:33  [Source: ICIS news]

TORONTO (ICIS news)--Styron, a former division of Dow Chemical, has been launched as a stand-alone company following its sale to private equity firm Bain Partners, it said on Friday.

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 Canada’s NOVA Chemicals.

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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By: Stefan Baumgarten
+1 713 525 2653



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