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)

For more on Dow Chemical and other producers visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index

Related Articles