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

China's PVC exports face challenges

August 22, 2014 2:14 pm ET

Despite robust growth in the first half of the year, China's PVC exports now faces new challenges, due to trade barriers and new capacity ramping up...    More

Image

Recycled HDPE prices climbing

August 22, 2014 11:26 am ET

North American selling prices for recycled grades of high density polyethylene resin have increased in recent months because of tight supplies of the ...    More

Image

Investment firm specializes in emerging polymer firms in Ohio

August 21, 2014 3:20 pm ET

A plastics market veteran is working with an investment firm and a research foundation to help commercialize polymer technology in the Buckeye State.    More

Image

Bayer, SCAC partner on water reuse project

August 21, 2014 12:48 pm ET

Bayer MaterialScience (BMS) and Shanghai Chlor-Alkali Chemical Co. Ltd. (SCAC) have entered into a preliminary agreement for the reuse of waste water ...    More

Image

Automakers look under the hood for the next lightweighting opportunities

August 20, 2014 1:06 pm ET

The automotive industry's current favorite target for lightweighting efforts is the powertrain, according to a recent survey.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events