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
Companies & Associations

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

Image

Jaguar Land Rover to begin using MuCell across its product line

April 27, 2015 9:47 am ET

Another automaker has announced plans to use Trexel Inc.'s MuCell molding technology in future production.    More

Image

Haitian builds system for Renault's new China auto assembly plant

April 24, 2015 11:10 am ET

A late-comer to the world's largest auto market, French carmaker Renault SA is currently building its first factory in China.    More

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Jeco adds Ferry rotational molder to handle increase in business

April 23, 2015 12:27 pm ET

Jeco Plastics Products LLC is ramping up for more work, adding a new Ferry 2600 rotational molder that will provide more capabilities.    More

Image

Engel, VW working on joint research into high volume composites in auto

April 23, 2015 9:40 am ET

Engel, the Austria-based manufacturer of injection molding machines, is building one of its largest machines for a research center looking into integr...    More

Market Reports

North American Thermoformed Packaging Market Outlook & Review 2015

Our annual report provides a thorough review and analysis of economic and political conditions, emerging market trends, packaging design advances, materials pricing and sustainable packaging issues impacting supply and demand in the TP segment. Our analysts identify key drivers of growth and opportunities for processors to remain competitive in the years ahead through innovation, production efficiencies and more.

Learn more

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 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

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events