Styron (company)

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Styron
Corporation
Traded as NYSETSE
Industry Manufacturing
Founded 2010
Headquarters Berwyn, PA, United States,
Products polystyrene, copolymers (ABS, SAN), polycarbonate, compounds & blends and expanded polystyrene, styrene, latex, low cis/high cis polybutadiene rubber, cold polymerized emulsion styrene butadiene rubber, solution styrene butadiene rubber
Website Styron

Company Profile[edit]

Styron is a plastics, rubber, and latex company owned by Bain Capital. Christopher D. Pappas is the current President and CEO.[1] Styron changed its name to Trinseo in 2012[2] but will continue to operate as “Styron” until all businesses have completed the change of name.[3] Its products primarily serve the automotive, appliances, packaging, electronics, paper & board, carpet, and tire industries, among others.[4] It was formed in August 2009 when Dow Chemical Company combined several of its businesses--styrenics; polycarbonate and compounds & blends; Dow Automotive plastics; emulsion polymers (paper and carpet latex); and synthetic rubber[5]—for the purpose of selling them.[6] Several private equity firms bid on Styron, including TPG Capital, Apollo Management, and Lotte Group.[7][8] On March 2, 2010, Bain Capital announced that it would purchase the newly formed company for $1.63 billion,[9] with Dow retaining a 7.5% stake. The sale was finalized in June 2010.[10]

Styron's annual revenue is approximately $5.54 billion.[11] Styron was the #67 ranked chemical company globally in 2011, posting sales of $6.193B.[12] Styron also owns a 50% stake in North American polystyrene producer American Styrenics LLC, a joint venture based in the Woodlands, Tex.[13]

Styron comprises approximately 2,100 employees[14] in 30 countries.[2] Styron is headquartered in Berwyn, Pennsylvania.[14] Styron’s IPO debuted on June 12, 2014, listed as NYSETSE reflecting its name change to Trinseo. All shares were sold in the offering,[15] and raised over $190 million.[16]

Products and Applications[edit]

  • Styron produces polystyrene co-polymers (ABS, SAN) and expanded polystyrene primarily used in packaging, food applications and home appliances.[17][18][19]
  • Styron produces styrene butadiene latex, which is applied as a coating on coated paper.[20]
  • Styron produces functionalized solution styrene butadiene rubber (SSBR) for use in high performance tires, and opened a new 50,000 metric ton production unit for production of SSBR in Schkopau, Germany in late 2012.[21] Styron also produces polycarbonate compounds and blends primarily used in automotive applications, medical devices and LED lighting.[22]
  • Styron's LGF polypropylene resin was instrumental in Ford Motor Company's development of an innovative headlamp bracket, which was awarded a 2012 Society of Plastics Engineers Innovation for Safety Award, and Styron's material solutions have also contributed to the design of the first, "thermoplastic lift-gate solution" in the new Renault Clio.[23]

See also[edit]

References[edit]

  1. ^ Barone, Jennifer (September 2012). "Building a Better World [One Atom at a Time]". Discover Magazine: 62. Retrieved 14 April 2013. 
  2. ^ a b "Styron L.L.C. to move headquarters to Philadelphia area". Philadelphia Inquirer. July 24, 2010. Retrieved August 27, 2010. 
  3. ^ "Trinseo, formerly Styron, trading on NYSE". http://www.plasticsandrubberasia.com. Trinseo, formerly Styron, trading on NYSE. Retrieved 21 July 2014. 
  4. ^ "Dow divests Styron business". Zacks Investment Research. March 9, 2010. Retrieved August 27, 2010. 
  5. ^ "Dow Closes Sale of Styron Division to Bain Capital for $1.63 Billion". Dow Chemical Company (press release). June 17, 2010. Retrieved August 27, 2010. 
  6. ^ "Dow puts new Styron business up for sale". Canadian Plastics. August 3, 2009. Retrieved August 27, 2010. 
  7. ^ Mccracken, Jeffrey; Lattman, Peter (March 1, 2010). "TPG in lead for Dow Chemical group". Wall Street Journal. Retrieved August 27, 2010. 
  8. ^ "Lotte Group Considering Buying Dow Chemical Unit Styron". Fox Business. January 7, 2010. Retrieved August 27, 2010. 
  9. ^ "Bain Capital to buy Dow unit for $1.63 billion". New York Times. March 2, 2010. Retrieved August 27, 2010. 
  10. ^ "Dow Closes Sale Of Styron Division To Bain Cap For $1.63 Billion". Dow Jones Newswires. June 17, 2010. Retrieved August 27, 2010. 
  11. ^ Berlin, Andrew. "Trinseo’s 4Q12 EBITDA tracks low end of management guidance, improves year-over-year". Debt Wire. Debtwire.com. Retrieved 14 April 2013. 
  12. ^ Davis, Nigel (September 10–16, 2012). "ICIS Top 100 Chemical Companies 2012". ICIS Chemical Business. p. 33. 
  13. ^ Esposito, Frank (December 6, 2010). "Styron ties material innovations to markets". Plastics News. 
  14. ^ a b "New headquarters, new name: Styron to become Trinseo". April 22, 2011. Retrieved January 22, 2012. 
  15. ^ "Shares of plastic maker Trinseo rise 9 pct in market debut". www.reuters.com. Reuters. Retrieved 21 July 2014. 
  16. ^ "Trinseo completes $190-million http://www.chemweek.com/sections/business_finance/usa_americas/Trinseo-completes-$190-million-NYSE-initial-public offering_61794.html". www.chemweek.com. Chemical Week. 
  17. ^ Gerrard, Peter. "Styron calls for new approach in European PS pricing". ICIS.com. ICIS.com. Retrieved 17 April 2013. 
  18. ^ "New ABS resin from Styron". MRCplast.com. MRCplast.com. Retrieved 17 April 2013. 
  19. ^ Staff. "New EPS grades from Styron". http://www.europeanplasticsnews.com/. http://www.europeanplasticsnews.com/. Retrieved 17 April 2013. 
  20. ^ Kemppainen, Jouni (3/12/2012). "The Chinese premiere of curtain coated linerboard" (PDF). Results Pulp and Paper. Retrieved 14 April 2013.  Check date values in: |date= (help)
  21. ^ "Viewpoint" (PDF). Rubber World. January 2013. Retrieved 14 April 2013. 
  22. ^ Lindway, Martin. "Cleanroom resin production supports medical device manufacturers". Medical Design. Penton Media, Inc. Retrieved 14 April 2013. 
  23. ^ Volkova, Margaret. "Styron LGF polypropylene resin helped Ford to get an award". Styron LGF polypropylene resin helped Ford to get an award. Market Report Company. Retrieved 19 April 2013.