Styron Begins Operations as a Leading Materials Company
with Global Reach
Midland, MI - June 17, 2010
Styron, a former business division of The Dow Chemical Company, today announced the new company's direction following the close of its sale to Bain Capital Partners on June 17.
As a standalone, privately held company, Styron (www.styron.com) will be a leading materials company with global reach and a unique product portfolio bringing together plastics, rubber and latex businesses that share feedstocks, operations, customers and end users. The company has approximately $3.7 billion in revenue (based on 2009 data), with 20 manufacturing sites and 1,900 employees based in 30 countries.
"Styron is a brand new global materials company that stands on seven decades of heritage - built upon a history of strengths in technology, application expertise, operations excellence, innovation and global reach," said Christopher D. Pappas, President and Chief Executive Officer of Styron. "But while we're proud of our past, it's where we're going that excites us the most. We bring the same world-class team our customers have come to trust -- talented employees with deep technical knowledge and experience. That same team is now fully dedicated to helping our customers stay at the forefront of their industries, and enabling them to turn their ideas into marketplace reality."
"We believe strongly in Styron's ability to realize its growth potential as a stand-alone global business, and to continue to build deep and lasting customer relationships," said Steve Zide, a Managing Director at Bain Capital. "Styron has many significant assets, including a solid and innovative product portfolio and a long-term, value-added partnership with Dow. We look forward to working with Chris Pappas and the experienced management team to strengthen Styron's leadership position, and to grow the business through geographic expansion and select acquisitions."
The company benefits from a leadership position in its two flagship products, Polystyrene and Styrene-butadiene Latex, and a broad geographic reach, with a strong manufacturing and Research & Development presence in all regions. Styron's broad plastics offering includes Polystyrene, Co-polymers Acrylonitrile Butadiene Styrene (ABS) and Styrene Acrylonitrile (SAN), Polycarbonate, Expandable Polystyrene (EPS) and Compounds & Blends as well as Automotive Plastics. Styron's Latex and Synthetic Rubber portfolio includes Styrene-butadiene latex (SB latex) and Styrene-acrylate latex (SA latex) as well as Solution styrene-butadiene (SSBR), Lithium polybutadiene (Li-PBR), Emulsion styrene-butadiene (ESBR) and Nickel polybutadiene (Ni-PBR).
About Bain Capital
Bain Capital, LLC (www.baincapital.com ) is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity, high-yield assets and mezzanine capital with approximately $65 billion in assets under management. Bain Capital has a team of over 300 professionals dedicated to investing and to supporting its portfolio companies. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 300 companies in a variety of industries around the world. Bain Capital has a long history of investments in industrial businesses, including such leading companies as Innophos, Brenntag, Sensata, SigmaKalon, FCI, Feixiang Chemicals, Novacap, and Himadri Chemicals. Headquartered in Boston, Bain Capital has offices in New York, London, Munich, Hong Kong, Shanghai, Tokyo, and Mumbai.
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