DOW
Sale of Styron to Bain is completed / Styrenics and PC producer has USD 3.7 bn in annual sales
Dow Chemical (Midland, Michigan/ USA; www.dow.com) has completed the sale of 62.5% of its styrenics division to Bain Capital Private Equity (Europe: London / UK; www.baincapitalprivateequity.com) for USD 1.63 bn – see Plasteurope.com of 03.03.2010. The chemical group is retaining a 7.5% stake in the company and has signed several long-term supply and purchase contracts with the new owner.
Assets of the Dow spin-off, which has USD 3.7 bn in annual sales, 20 production sites and 1,900 employees in 30 countries worldwide, include the styrenic polymers PS, ABS, SAN and EPS, along with emulsion polymers, polycarbonate resin, compounds and blends. The automotive plastics unit is also included, along with synthetic rubber and some styrene monomer assets. The management team will be headed by Chris Pappas, previously CEO of Nova Chemicals (Calgary, Alberta / Canada; www.novachem.com) – see Plasteurope.com of 07.04.2010.
Assets of the Dow spin-off, which has USD 3.7 bn in annual sales, 20 production sites and 1,900 employees in 30 countries worldwide, include the styrenic polymers PS, ABS, SAN and EPS, along with emulsion polymers, polycarbonate resin, compounds and blends. The automotive plastics unit is also included, along with synthetic rubber and some styrene monomer assets. The management team will be headed by Chris Pappas, previously CEO of Nova Chemicals (Calgary, Alberta / Canada; www.novachem.com) – see Plasteurope.com of 07.04.2010.
21.06.2010 Plasteurope.com [216571]
Published on 21.06.2010
German version of this article...