Styron sales drop 3 percent in 2013

EUROPEAN PLASTICS NEWS

Published: March 13, 2014 10:19 am ET
Updated: March 13, 2014 10:21 am ET

Related to this story

Topics Automotive, Building/construction, Materials Suppliers

Styron LLC, a global plastics and rubber materials company, has released its annual financial results for 2013 showing a 3 percent drop in sales revenue from $5.5 billion in 2012 to $5.3 billion.

Styron, which was part of Dow Chemical Co. until its 2010 purchase by Bain Capital Partners, attributes the drop in sales volume primarily to its styrenics segment.

The styrenics had to increase the cost of its polystyrene products due to price increases of its styrene monomer feedstock. The company also said lower demand for latex in Asia and Europe was a factor.

Styrenics revenue of $530 million for the fourth quarter of 2013 was 2 percent below the prior year including a 1 percent reduction due to the divestiture of the expandable polystyrene business.

The engineered polymers segment saw a 4 percent climb for the fourth quarter, to $260 million, compared to 2012. The company said that was due to higher volume in this segment, with more sales to the automotive and building and construction markets.

Styron reports adjusted earnings before taxes and depreciation of $303 million for 2013, up 4 percent on the previous year.

Chris Pappas president and CEO of Styron LLC, said:  “We are cautiously optimistic that we can deliver higher adjusted EBITDA in 2014 as compared to 2013.

“While we believe we will not see a repeat of the record styrene margin levels of the second half of 2013, we look to more than make up for that with improved performance particularly in synthetic rubber, with a stronger tire market … and in engineered polymers, with an improving polycarbonate market and continued wins with our differentiated offerings in the automotive, medical, and other markets.”

Styron has 19 manufacturing sites worldwide and approximately 2,100 employees.


Comments

Styron sales drop 3 percent in 2013

EUROPEAN PLASTICS NEWS

Published: March 13, 2014 10:19 am ET
Updated: March 13, 2014 10:21 am ET

Post Your Comments


Back to story


More stories

Ford shrinks its supplier 'watch list'

October 20, 2014 1:35 pm ET

Ford purchasing chief Hau Thai-Tang says suppliers are starting to invest in additional production capacity because they think the recovery is real.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Image

Corbion Purac collaboration taking bioplastics into even more uses

October 17, 2014 6:00 am ET

Corbion Purac NV's collaboration with Taiwan-headquartered compounder Supla Co. Ltd. and Taiwan electronics producer Kuender & Co. is paying...    More

Image

Momentive gearing up for some timely LSR sales

October 17, 2014 10:58 am ET

Momentive Performance Materials Inc. has plenty of time for customers at Fakuma — thanks to colorful new watchbands made with the firm's fiber-...    More

Image

Evonik sees clear growth opportunities with new Plexiglas Resist resin

October 17, 2014 6:00 am ET

Evonik Industries AG presented a new specialty molding compound during Fakuma in Friedrichshafen with which it plans to exploit the growing demand for...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events