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

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Investor group wants DuPont to split in two

September 18, 2014 7:37 pm ET

Investment firm Trian Fund Management LP is calling for plastics and chemicals giant DuPont Co. to split itself into two firms, one of which would...    More

Image

Minnesota receives grant to help develop new bioplastics

September 17, 2014 4:08 pm ET

The University of Minnesota has received a $20 million grant to fund the development of new types of bioplastics.    More

Image

China's Polymax Elastomer launches U.S. production in Illinois

September 17, 2014 3:35 pm ET

Chinese materials maker Polymax Elastomer Technology Co. Ltd. has opened a North American production site and headquarters in Waukegan, Ill.    More

Image

PolyOne helps nonprofit get water purification to more places in need

September 17, 2014 1:59 pm ET

Resin giant PolyOne Corp. is teaming up with WaterStep, a non-profit water purification agency, to help the group assist a greater number of disaster ...    More

Market Reports

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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

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

Upcoming Plastics News Events

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

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

More Events