28 Jun 2011
ERJ staff report (PN)
Berwyn, Pennsylvania -- Global polystyrene leader Styron LLC -- which is changing its name to Trinseo SA later this year -- announced today that it is planning an intial public offering of stock.
Dow Chemical Co. sold Styron -- its market-leading styrenics business -- to private equity firm Bain Capital LLC last year for $1.6 billion. The company is based in Berwyn.
In a filing with the Securities and Exchange Commission, Styron said it plans to sell up to $400 million in ordinary stock through an IPO. The company plans to use part of the proceeds of the IPO to repay debt.
Styron also makes ABS, SAN polymers, styrene-butadiene latex and synthetic elastomers, expanded PS and polycarbonate.
From Plastics News (A Crain publication)
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