Styrenics company filing initial public offering

By Frank Esposito
Senior Staff Reporter

Published: March 18, 2014 5:01 pm ET
Updated: March 18, 2014 5:10 pm ET

Related to this story

Topics Materials, Materials Suppliers

If at first you don’t succeed, file your IPO again.

That’s the story for Berwyn, Pa.-based materials firm Styron LLC. The firm hopes to raise as much as $200 million in an initial public offering at an unspecified date, according to a March 14 filing with the Securities & Exchange Commission (SEC). The firm had filed for an IPO in June 2011, but withdrew that filing in June 2013.

Styron will file the new IPO as Trinseo SA. The firm has been moving toward that name change since 2011, but still uses both names.

Funds raised by the stock offering would be used to pay down debt, for working capital and for general corporate purposes, officials said in the filing. No stock exchange or target per-share price was listed in the filing.

Styron was formed in 2011 when private equity firm Bain Capital LLC of Boston paid $1.6 billion for the styrenics businesses of Dow Chemical Co. The firm’s assets include a 50 percent stake in Americas Styrenics, a joint venture it operates with Chevron Phillips Chemical Co.

Styron is looking to rebound in 2014 after posting a loss of $22.2 million in 2013. The firm — which employs 2,100 worldwide — had earned a profit of $30.3 million in 2012. Styron’s sales in 2013 also fell almost 3 percent to just over $5.3 billion.

The firm’s styrenics unit — including its share in Americas Styrenics — fared better in 2013, with sales growing more than 7 percent to just over $2.3 billion. Sales in Styron’s engineered polymers unit, however, fell almost 2 percent to just under $1.04 billion.

At the K 2013 trade show in October, Styron debuted new grades of Velvex-brand reinforced elastomer compounds that are being used in instrument panels for the auto sector. Plastics business president Martin Pugh said at the event that the firm was seeing growth in both the automotive and electrical/electronics sectors.


Comments

Styrenics company filing initial public offering

By Frank Esposito
Senior Staff Reporter

Published: March 18, 2014 5:01 pm ET
Updated: March 18, 2014 5:10 pm ET

Post Your Comments


Back to story


More stories

Image

New Hexcel plant will supply carbon fiber for Airbus A350 XWB

September 30, 2014 2:43 pm ET

Hexcel Corp. is investing $250 million on a new carbon fiber plant in France, with part of the production going into the future Airbus SAS A350 XWB.    More

Image

LyondellBasell CEO Gallogly to retire

September 30, 2014 3:00 pm ET

James Gallogly, CEO of Houston-based polyolefins producer LyondellBasell Industries NV, on Sept. 29 announced plans to retire in 2015.    More

Image

Asahi Kasei breaks ground on Alabama compounding plant

September 29, 2014 5:39 pm ET

Asahi Kasei Plastics North America will be able to solve two problems at once with a new compounding plant in Athens, Ala.    More

Image

DuPont shifting Teflon production in China

September 29, 2014 2:35 pm ET

DuPont Co. will spend more than $15 million to improve its fluoropolymer product offerings in China.    More

Image

Sale of PVC maker Oltchim still in limbo

September 29, 2014 10:25 am ET

Fresh attempts to privatize insolvent Romanian PVC producer Oltchim SA have met with new obstacles as the European Union questioned the Romanian gover...    More

Market Reports

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 industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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