Styron Begins Operations as a Leading Materials Company With Global Reach
18/06/2010 09:01
PR Newswire
MIDLAND, Michigan, June 18, 2010 /PRNewswire/ -- Styron, a former business division of The Dow Chemical Company, today
announced the new company's direction following the close of its sale to Bain
Capital Partners on June 17.
(Logo:
As a standalone, privately held company, Styron (http://www.styron.com)
will be a leading materials company with global reach and a unique product
portfolio bringing together plastics, rubber and latex businesses that share
feedstocks, operations, customers and end users. The company has
approximately $3.7 billion in revenue (based on 2009 data), with 20
manufacturing sites and 1,900 employees based in 30 countries.
"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 Christopher D. Pappas, President and Chief Executive Officer of Styron.
"But while we're proud of our past, it's where we're going that excites us
the most. We bring the same world-class team our customers have come to trust
- talented employees with deep technical knowledge and experience. That same
team is now fully dedicated to helping our customers stay at the forefront of
their industries, and enabling them to turn their ideas into marketplace
reality."
"We believe strongly in Styron's ability to realize its growth potential
as a stand-alone global business, and to continue to build deep and lasting
customer relationships," said Steve Zide, a Managing Director at Bain
Capital. "Styron has many significant assets, including a solid and
innovative product portfolio and a long-term, value-added partnership with
Dow. We look forward to working with Chris Pappas and the experienced
management team to strengthen Styron's leadership position, and to grow the
business through geographic expansion and select acquisitions."
The company benefits from a leadership position in its two flagship
products, Polystyrene and Styrene-butadiene Latex, and a broad geographic
reach, with a strong manufacturing and Research & Development presence in all
regions. Styron's broad plastics offering includes Polystyrene, Co-polymers
Acrylonitrile Butadiene Styrene (ABS) and Styrene Acrylonitrile (SAN),
Polycarbonate, Expandable Polystyrene (EPS) and Compounds & Blends as well as
Automotive Plastics. Styron's Latex and Synthetic Rubber portfolio includes
Styrene-butadiene latex (SB latex) and Styrene-acrylate latex (SA latex) as
well as Solution styrene-butadiene (SSBR), Lithium polybutadiene (Li-PBR),
Emulsion styrene-butadiene (ESBR) and Nickel polybutadiene (Ni-PBR).
About Styron
Styron is a leading global materials company, dedicated to innovate and
deliver for its customers. Styron's unique and balanced product portfolio
brings together plastics, rubber and latex businesses that share feedstocks,
operations, customers and end users. Styron has a leadership position in its
two flagship products, polystyrene and latex. The company benefits from
global scale, a long-standing tradition of unrivaled customer relationships
and a robust innovation pipeline. Styron has approximately $3.7 billion in
revenue (based on 2009 data), with 20 manufacturing sites in all geographies.
Styron's 1,900 employees are committed to listen to customers' needs and
provide them with innovative and sustainable solutions in markets such as
appliances, automotive, building & construction, carpet, commercial
transportation, consumer electronics, consumer goods, electrical & lighting,
medical, packaging, paper & paperboard, rubber goods and tires. More
information about Styron can be found at http://www.styron.com
About Bain Capital
Bain Capital, LLC (http://www.baincapital.com ) is a global private
investment firm that manages several pools of capital including private
equity, venture capital, public equity, high-yield assets and mezzanine
capital with approximately $65 billion in assets under management. Bain
Capital has a team of over 300 professionals dedicated to investing and to
supporting its portfolio companies. Since its inception in 1984, Bain Capital
has made private equity investments and add-on acquisitions in over 300
companies in a variety of industries around the world. Bain Capital has a
long history of investments in industrial businesses, including such leading
companies as Innophos, Brenntag, Sensata, SigmaKalon, FCI, Feixiang
Chemicals, Novacap, and Himadri Chemicals. Headquartered in Boston, Bain
Capital has offices in New York, London, Munich, Hong Kong, Shanghai, Tokyo,
and Mumbai.
For editorial information: Catherine Maxey, Styron LLC, cmaxey@styron.com, +1-989-636-4506; For editorial information: Inge Boets, Porter Novelli, inge.boets@porternovelli.be, +32-476-999056
-