US Styron to sell expandable PS business to Belgium’s Ravago

19 July 2013 15:03  [Source: ICIS news]

HOUSTON (ICIS)--Styron’s European affiliate, Styron Europe, has agreed to sell Styron's expandable polystyrene (EPS) business to a subsidiary of Belgian plastics firm Ravago, the US-headquartered global plastics, latex and rubber producer said on Friday.

The sale includes Styron’s EPS plant in Schkopau, Germany, as well as related intellectual property and the SCONAPOR brand. Financial terms were not disclosed.

”The sale of the EPS business is in line with our strategic portfolio management to refine Styron’s portfolio of businesses,” said Styron CEO Chris Pappas.

“The EPS business will be a stronger fit for Ravago, as they are strategically committed to growing in this area,” Pappas said.

Ravago CEO Theo Roussis said: “The expertise of [Styron’s Schkopau] team and the high level of the factory set-up will further strengthen our Ravago manufacturing platform and technologies.”

“The customer portfolio is very complementary and we look forward to developing our commercial relationships,” he added.

Styron had previously announced plans to change the name of all Styron affiliated companies to Trinseo. Styron companies that have not yet changed their names to Trinseo continue to do business as Styron until their respective name changes are complete, the company said.

Styron/Trinseo is a former Dow Chemical business that was launched in 2010 as a stand-alone company following its sale to a private equity firm.

By: Stefan Baumgarten
+1 713 525 2653

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