MIDLAND, Mich. -- Styron, a former business division of The Dow Chemical Company, on Monday 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 will focus on its global materials operations with and its 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.
“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 Styron CEO 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.