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

Lower oil prices will continue to impact PE, PP resin pricing

March 2, 2015 2:05 pm ET

Lower oil prices will continue to affect North American markets for polyethylene and polypropylene resin in the months ahead.    More

Image

BASF keeps innovating to drive customers

March 2, 2015 11:39 am ET

Materials giant BASF Performance Materials is keeping innovation alive with new products and processes.    More

Image

BASF earnings up despite 'disappointing economic development' for Europe

March 2, 2015 10:50 am ET

Chemicals giant BASF SE said Feb. 27 it had hit its goal for 2014, increasing earnings, “despite the disappointing economic development in...    More

Image

Borealis reports record profit for 2014

March 2, 2015 10:29 am ET

Borealis AG, the Austria-headquartered chemicals giant, announced record annual net profits, numbers the group said were boosted by improved margins...    More

Image

Experts explain why resin sales are down in a healthy US economy

February 27, 2015 1:58 pm ET

The economies of the U.S. and Canada posted solid growth in 2014 — even though resin demand in those countries lagged behind.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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 in Mexico - State of the Industry Report

This report analyzes the $20 billion 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

Upcoming Plastics News Events

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

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

More Events