2010/2 Dow's Styron unit attracts private equity-sources
2010/3 Dow Announces Sale of Styron Division to Bain Capital for $1.63 Billion
2010/6 Dow Closes Sale of Styron Division to Bain Capital for $1.63 Billion
Styron Begins Operations as a Leading Materials Company with Global Reach
2010/12 Styron Announces New SSBR Production Line in Schkopau, Germany
2011/5 Styron Breaks Ground on its New SSBR Production Line in Schkopau, Germany
2013/7 Styron Announces Sale of Expandable Polystyrene Business to Ravago
June 17, 2010
Styron Begins Operations as a Leading Materials Company with Global Reach
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).
Styron is a leading global materials company, dedicated to innovate and deliver for its customers. Styron's unique and balanced product portfolio brings together plastics, rubber and latex businesses that share feedstocks, operations, customers and end users. Styron has a leadership position in its two flagship products, polystyrene and latex. The company benefits from global scale, a long-standing tradition of unrivaled customer relationships and a robust innovation pipeline. Styron has approximately $3.7 billion in revenue (based on 2009 data), with 20 manufacturing sites in all geographies. Styron's 1,900 employees are committed to listen to customers' needs and provide them with innovative and sustainable solutions in markets such as appliances, automotive, building & construction, carpet, commercial transportation, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. More information about Styron can be found at www.styron.com.
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.
December 20, 2010
Styron Announces New SSBR Production Line in Schkopau, Germany to Meet Increasing Demand for High Performance Tires
Styron today announced that the company will expand its SSBR (Solution Styrene Butadiene Rubber) capacity with a new production line at Styron’s production facility in Schkopau, Germany. The additional capacity of 50,000 metric tons will allow Styron to help customers around the world meet the increasing demand for high performance tires.
SSBR for high performance
tires with lower rolling resistance
Solution Styrene Butadiene Rubber is a synthetic rubber used in a wide variety of applications, including the production of tires. The major trend in tires is towards low rolling resistance, which significantly contributes to improving fuel efficiency and reducing CO2 emissions. SSBR in high performance tires allows for an optimum performance balance of improved wet grip, high abrasion resistance, low road noise, light weight and low rolling resistance, resulting in better fuel efficiency and lower CO2 emissions.
Demand driven by new
This evolution in tire technology is accelerated by strict European environmental legislation. Mandatory performance labeling of tires, including a maximum rolling resistance, will be formally introduced in 2012 and car manufacturers already face CO2 emissions targets. In addition, consumer incentives are expected to drive growth of low rolling resistance tires. As a result, the demand for greener, high performance tires is growing rapidly in Europe. Other countries around the world are expected to follow Europe in the future.
SSBR expansion meets
global market needs
As a technology leader in SSBR, Styron offers a market leading product range of advanced generation SSBR which addresses all the needs of high performance tires: lower rolling resistance, lower emissions, and better wet grip performance at high speeds. The SSBR expansion in Schkopau will allow Styron to provide tire manufacturers with a key lever to further improve tire performance and meet the future demand of their customers.
Marco Levi, Vice President Emulsion Polymers at Styron says: “Safety, fuel economy and durability - that's what consumers are looking for in their tires. And that's what they'll get when tire manufacturers work with Styron. It comes down to basic chemistry - designing a new rubber that reduces rolling resistance without compromising on grip and wear - and our engineers are bringing it to market. Styron’s SSBR technology addresses this important and far-reaching trend for durable, greener high performance tires by delivering stronger than ever benefits for reducing CO2 emissions.”
New production line
operational in 2012
The construction of the new production line will start with the groundbreaking in May 2011. The new train will be built alongside existing trains and will focus on SSBR production, with the capability to produce all existing clear and oil extended Styron grades. Production is expected to start in Q4 2012. The new production line will supply customers around the world.
“Schkopau, Germany is the ideal location for Styron to make its initial major expansion in our SSBR offering,” said Chris Pappas, President and CEO of Styron. “While we acknowledge the tire industry is changing globally with strong, long term growth around the world, we must immediately meet the current demand for high performance tires being driven by European legislation. The additional capacity at Schkopau will allow us to do just that. Styron has a strong tradition of being close to its customers to help them develop their next generation of products and we will continue to do so in the future.”
May 11, 2011 Styron
Styron Breaks Ground on
its New SSBR Production Line in Schkopau, Germany, for High
Today the newly elected minister of economic affairs Mrs. Prof. Dr. Birgitta Wolff and other dignitaries joined leaders and employees from Styron to celebrate the construction of Styron’s new SSBR (Solution Styrene Butadiene Rubber) production line. The groundbreaking ceremony introduced an additional capacity of 50,000 metric tons at the production facility in Schkopau, Germany, and will allow Styron to help customers around the world meet the increasing demand for high performance tires.
Styron Vice President,
Emulsion Polymers Marco Levi described the additional SSBR
capacity as a win-win situation for all involved. More
sustainable solutions are being introduced for the global rubber
industry and its end consumers. In his speech Levi marked this
milestone as proof of Styron’s continual investment in the
company’s core businesses.
“The investment in a new SSBR production line in Schkopau, Germany, is a strategic fit with our leadership position into the SSBR market,” said Levi. “We’ve been in this market for a long time and recognize the changing needs of our customers. Our additional SSBR capacity will help customers around the world develop their next generation of products and meet the increasing demand for greener, higher performance tires.”
The new production train will be built alongside existing trains and is expected to be fully operational by Q4 2012. With this capacity expansion, Styron envisions the creation of approximately 30 additional jobs at the Schkopau site. According to Ralf Irmert, business development director, Synthetic Rubber at Styron, the new train will focus on SSBR production, with the capability to produce all existing clear and oil extended Styron grades.
“As a result of new environmental legislation and of consumer incentives, it’s apparent that high performance tires with lower rolling resistance are the future. In close collaboration with our customers, we’re providing the market with solutions that result in better fuel efficiency and lower CO2 emissions,” said Irmert. “Thanks to our team in Schkopau, we’ve been able to take a leadership position in the SSBR market, and with this additional capacity and a next generation synthetic rubber in the pipeline, we’ll continue to do so in the future.”
July 19, 2013
Styron Announces Sale of Expandable Polystyrene Business to Ravago
Styron Europe GmbH and Ravago S.A. announced jointly today that they have signed a definitive agreement under which Styron’s Expandable Polystyrene (EPS) business will be sold to RP Compounds, a subsidiary of Ravago S.A., for an undisclosed sum.
The sale includes the EPS manufacturing facility in Schkopau, Germany, as well as related intellectual property and the SCONAPOR™ brand. The transaction is subject to regulatory approval and completion of customary conditions.
“We are delighted to bring the EPS activities of Schkopau within the Ravago Group,” said Theo Roussis, CEO of Ravago Group. “The expertise of the team and the high level of the factory set-up will further strengthen our Ravago manufacturing platform and technologies. The customer portfolio is very complementary and we look forward to developing our commercial relationships.”
“The sale of the EPS business is in line with our strategic portfolio management to refine Styron’s portfolio of businesses,” said Chris Pappas, President and CEO of Styron. “The EPS business will be a stronger fit for Ravago, as they are strategically committed to growing in this area.”
Expandable Polystyrene (EPS) is a type of plastic used to make foam insulation board and foam packaging.
When Raf Van Gorp founded Ravago in 1961, he was given the opportunity to buy the premises of a dynamite company in Arendonk, Belgium. This enabled him to work out the luminous idea he had: recycling production waste from the plastics producing petrochemical companies. From there, the company grew into a successful service provider to the petrochemical industry as a distributor and reseller of plastic resins. Diversification towards production and distribution of building products guaranteed a second revenue line in Europe. Today, the Ravago Group is the number one service provider in the global market of plastics, rubber and chemicals.
February 18, 2014
Styron Significantly Increases its Solution Styrene Butadiene Rubber Production Capacity
Acquiring additional SSBR capacity from JSR
Styron, the global materials company and manufacturer of plastics, latex and rubber, announced today that it will be doubling its Solution Styrene Butadiene Rubber (SSBR) production capacity of one train, after reaching an agreement with material supplier JSR, to acquire its current production capacity rights at Styron’s world-scale rubber production hub in Schkopau, Germany. SSBR is used in producing high performance tires and green tires with lower rolling resistance.
Styron’s Schkopau production site currently hosts eight world-scale rubber trains that supply tire customers around the world. Prior to this agreement, JSR held the capacity rights to 50% of one of Styron’s three SSBR production trains in Schkopau. As a result, as from April 1, 2014 Styron will have full capacity rights to this train, enabling it to increase its capabilities to serve the global tire market. As owner of the Schkopau rubber complex, Styron is uniquely positioned to capitalize on this expansion opportunity, which is strongly in line with its rubber business growth strategy, and is a cost-effective solution to meet increasing customer demands.
“This agreement allows us to further grow our rubber business in a very economical and timely manner. The investment builds on the success of the third SSBR train in Schkopau which we brought on-line in 2012. Styron invests continuously in R&D and production capacity to ensure customer success,” says Marco Levi, Senior Vice President and Business President of Emulsion Polymers, Styron.
“We are a clear technology leader in functionalized SSBR, continually putting forward breakthrough products that allow our tire customers to meet their goals. With this additional capacity we will be able to react faster to our customer’s needs, and at the same time the production line can be leveraged to produce our next generation grades,” says Francesca Reverberi, Business Director for Rubber, Styron.
In today’s market, tire producers need to develop sustainable products with long life, fuel savings and safe technology. SSBR is a key enabling technology for tires with low rolling resistance combined with excellent wet grip and abrasion resistance in the tread.
April 09, 2014 Styron
Styron Announces Plans to Convert Ni-BR
Rubber Production Line to Neodymium-BR
Investment Will Meet Increasing Demand for Ultra High Performance Tires
Styron, the global materials company and manufacturer of plastics, latex and rubber, today announced that it will convert its Nickel Butadiene Rubber (Ni-BR) production train in Schkopau, Germany, to Neodymium Butadiene Rubber (Nd-BR).
Coupled with Styron’s existing leading technology in Solution Styrene Butadiene Rubber (SSBR), the Nd-BR offering will allow Styron to help customers around the world meet the increasing demand for green tires/ultra-high performance tires.
“The Nd-BR development allows us to further grow our rubber business, broaden our product range and maintain product leadership,” says Francesca Reverberi, Global Business Director of Synthetic Rubber, Styron. “The investment builds on the success of the third SSBR train in Schkopau that we brought on-line in late 2012, as well as the expanded capacity we took over earlier this year. These investments are all driven to serve our global tire customers.”
In February, Styron announced an agreement with material supplier JSR to acquire its production capacity rights at Schkopau, essentially doubling Styron’s capacity of one train.
New production line operational in 2015
The conversion of the Ni-BR production line in Schkopau will begin this year and is expected to be completed in the Fourth Quarter of 2015. The Nd-BR production line will supply customers around the world. Styron’s Schkopau production site currently hosts eight world-scale rubber trains that supply tire customers around the world.
“Schkopau, Germany, is the ideal location for Styron to make this investment because of its longstanding expertise in rubber technology,” says Marco Levi, Senior Vice President and Business President of Emulsion Polymers, Styron. “Styron invests continuously in R&D and production capacity to support our customers around the world.”
Nd-BR for ultra-high performance tires with lower rolling resistance
Nd-BR is a synthetic rubber used mainly in the production of tires as well as in a variety of other applications such as industrial rubber goods and polymer modification. The major trend in tires is towards low rolling resistance, which significantly contributes to improving fuel efficiency and reducing CO2 emissions. Nd-BR in ultra-high performance tires allows the increase of elasticity/endurance and durability of the wear which results in improved fatigue resistance and groove cracking resistance, better abrasion resistance, higher rebound resilience as well as a lower heat build-up under dynamic stress which ultimately leads to improved rolling resistance in tires.
Demand driven by new Global legislation
This evolution in tire technology is accelerated by strict environmental legislation focusing on less fuel consumption and including minimum low rolling resistance. The mandatory performance labeling of tires, including a minimum rolling resistance, was formally introduced in 2010 in Japan, 2012 in Europe and is expected to be implemented in 2015 in China as well as in 2016 in North America and Latin America. As a result, the demand for greener, ultra-high performance tires is growing globally. Another key driver is coming from the major tire manufacturers who request material for ultra high performance tires.
Styron previously announced plans to change the name of all Styron affiliated companies to Trinseo. Some, but not all, of the Styron companies are currently known as Trinseo; Styron companies that have not yet changed their names will continue to do business as Styron until their respective name changes are complete. Styron's operating companies also continue to do business as Styron at this time.
Styron はhigh-cis polybutadiene rubber (Ni-BR)と low-cis polybutadiene rubber (Li-BR) を生産している。