Bain Capital has concluded the procurement of the global styrene-based polymer business of Dow Chemical for the future growth plans.
Bain Capital has successfully completed the procurement of the global styrene-based polymer business of Dow Chemical. The Styron business unit includes polystyrene, SAN polymers, synthetic elastomers and ABS and PS resins and polycarbonate polymers.
The sales of this firm was $3.7 billion in 2009 from 20 operating units of the world. Chris Pappas, president and chief executive officer of the company, has stated: “Styron is a brand new global materials company that stands on seven decades of heritage”.
The solid product portfolio would play a significant role in the future growth plans of the company, which included both the geographic expansion as well as selective acquisition.
Dow has declared the farming out of the Styron division, which also included long-term supply agreements with Dow to Bain Capital in March for a total sum of $1.6 billion. This Boston-based firm, Bain Capital, was part owner of BOPP film producer Treofon Group from 2002 to 2005.