Trinseo

Last updated
Trinseo
FormerlyStyron
Type Public
NYSE:  TSE
S&P 600 Component
Russell 2000 Component
Industry Manufacturing
FoundedJune 2010;11 years ago (2010-06) (as Styron)
Headquarters Berwyn, Pennsylvania, U.S.
Key people
Frank Bozich (CEO)
Productspolystyrene, copolymers (ABS, SAN), polycarbonate, compounds & blends and expanded polystyrene, styrene, latex, low cis/high cis polybutadiene rubber, cold polymerized emulsion styrene-butadiene rubber, solution styrene butadiene rubber
Number of employees
2,100 [1]
Website Trinseo

Trinseo is a global materials company, focusing particularly on the manufacture of plastics, latex, and synthetic rubber. [2] Trinseo (formerly known as Styron) was part of the Dow Chemical Company until Dow grouped several of its businesses for potential sale in 2009. In 2010, under the name Styron, those holdings were sold to private equity firm Bain Capital for $1.63 billion. [3] As of 2016, Bain sold all of its stock in Trinseo, grossing $1.69 billion for 37,269,567 shares, resulting in Trinseo's “full independence as a public company.” [4] [5]

Contents

The company offers a broad line of plastics, latex and synthetic rubber, which are used primarily in the automotive, appliances, electronics, packaging, paper & board, carpet, and tire industries, among others. Trinseo materials are used widely, in cars and trucks, home appliances, consumer goods, electronics, electrical & lighting, building & construction, medical supplies, and packaging. [6]

As of June 12, 2014, Trinseo is listed on the New York Stock Exchange as NYSE :  TSE. [7] As of March 4, 2019, Frank Bozich became the President and CEO, succeeding Christopher D. Pappas. [8] [9] [10]

Company history

Trinseo's precursor Styron was formed in August 2009 when Dow Chemical Company combined several of its businesses--styrenics; polycarbonate and compounds & blends; Dow Automotive plastics; emulsion polymers (paper and carpet latex); and synthetic rubber — as part of a larger process of identifying and selling non-strategic assets. [11] [12] Several private equity firms bid on Styron, including TPG Capital, Apollo Management, and Lotte Group. [13] [14] On March 2, 2010, Bain Capital announced that it would purchase the newly formed company for $1.63 billion, [15] with Dow retaining a 7.5% stake. The sale was finalized in June 2010. [16]

The name Trinseo was chosen in 2012. [17] By February 2015, all legal entities worldwide had changed to the name Trinseo. [18]

As of 2016, Bain sold all of its stock in Trinseo, grossing $1.69 billion for 37,269,567 shares, resulting in Trinseo's “full independence as a public company.” [4] [5] In November 2017, Trinseo started a MAGNUM ABS production line manufacturing plant at the Zhangjiagang, China site. [19]

Financial

Trinseo is headquartered in Berwyn, Pennsylvania. [1] Trinseo comprises approximately 2,100 employees [1] in 30 countries. [20]

Styron was the #67 ranked chemical company globally in 2011, posting sales of $6.193B. [21] As of 2013, Trinseo's annual revenue was approximately $5.54 billion. [22] As of 2017 the company reported a net income of $310 million and an adjusted EBITDA guidance of $580 million. [23]

Trinseo owns a 50% stake in North American polystyrene producer American Styrenics LLC, a joint venture based in the Woodlands, Texas. [24] Trinseo previously held a 50% stake in Sumika Styron Polycarbonate Limited, but sold this to Sumitomo Chemical in 2017. [25] In 2016 Trinseo signed an agreement to sell its Brazil-based businesses to Qoppar Participacoes Ltda. [26]

As of 2017, Trinseo announced its first acquisition, the Italian plastics firm Applicazioni Plastiche Industriali. [27] API's softer plastics will complement Trinseo's harder plastics. [28] On September 27, 2017, Trinseo opened a new research and development center in Terneuzen, Netherlands. [29]

New York Stock Exchange

Trinseo's IPO debuted on June 12, 2014, listed as NYSE :  TSE. [7] [30] All shares were sold in the offering, [31] and raised over $190 million. [32]

Products and applications

See also

Related Research Articles

Chemical industry Industry (branch), which is engaged in the manufacturing of chemical products

The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials into more than 70,000 different products. The plastics industry contains some overlap, as some chemical companies produce plastics as well as chemicals.

Petrochemical Chemical product derived from petroleum

Petrochemicals are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.

Polystyrene Polymer

Polystyrene (PS) is a synthetic aromatic hydrocarbon polymer made from the monomer known as styrene. Polystyrene can be solid or foamed. General-purpose polystyrene is clear, hard, and brittle. It is an inexpensive resin per unit weight. It is a poor barrier to oxygen and water vapour and has a relatively low melting point. Polystyrene is one of the most widely used plastics, the scale of its production being several million tonnes per year. Polystyrene can be naturally transparent, but can be coloured with colourants. Uses include protective packaging, containers, lids, bottles, trays, tumblers, disposable cutlery and in the making of models.

Thermoplastic Plastic that becomes soft when heated and hard when cooled

A thermoplastic, or thermosoftening plastic, is a plastic polymer material that becomes pliable or moldable at a certain elevated temperature and solidifies upon cooling.

Styrofoam Trademarked brand for extruded polystyrene

Styrofoam is a trademarked brand of closed-cell extruded polystyrene foam (XPS), commonly called "Blue Board", manufactured as foam continuous building insulation board used in walls, roofs, and foundations as thermal insulation and water barrier. This material is light blue in color and is owned and manufactured by The Dow Chemical Company.

Dow Chemical Company American chemical company

The Dow Chemical Company (TDCC) is an American multinational chemical corporation headquartered in Midland, Michigan, United States, and a subsidiary of Dow Inc. The company is among the three largest chemical producers in the world.

SABIC (Saudia) Saudi chemicals company

Saudi Basic Industries Corporation, known as SABIC, is a Saudi Arabian multinational chemical manufacturing company, and a subsidiary of the state-owned petroleum and natural gas company Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul. 70% of SABIC's shares are owned by Saudi Aramco.

Engineering plastic Plastics often used for making mechanical parts

Engineering plastics are a group of plastic materials that have better mechanical and/or thermal properties than the more widely used commodity plastics.

Kraton is the trade name given to a number of high performance elastomers manufactured by Kraton Polymers, and used as synthetic replacements for rubber. Kraton polymers offers many of the properties of natural rubber, such as flexibility, high traction, and sealing abilities, but with increased resistance to heat, weathering, and chemicals. It was first made by the chemical division of the Shell Oil Company in the 1950s, under the technical leadership of Murray Luftglass and Norman R. Legge. Shell sold its Kraton polymers business to private equity firm Ripplewood Holdings in March 2001.

Plastic bottle Bottle constructed of plastic

A plastic bottle is a bottle constructed from high-density or low density plastic. Plastic bottles are typically used to store liquids such as water, soft drinks, motor oil, cooking oil, medicine, shampoo, milk, and ink. The size ranges from very small bottles to large carboys. Consumer blow molded containers often have integral handles or are shaped to facilitate grasping.

Polymer engineering is generally an engineering field that designs, analyses, and modifies polymer materials. Polymer engineering covers aspects of the petrochemical industry, polymerization, structure and characterization of polymers, properties of polymers, compounding and processing of polymers and description of major polymers, structure property relations and applications.

Styrene-acrylonitrile resin Chemical compound

Styrene acrylonitrile resin is a copolymer plastic consisting of styrene and acrylonitrile. It is also known as SAN. It is widely used in place of polystyrene owing to its greater thermal resistance. The chains of between 70 and 80% by weight styrene and 20 to 30% acrylonitrile. Larger acrylonitrile content improves mechanical properties and chemical resistance, but also adds a yellow tint to the normally transparent plastic.

Styron may refer to:

A. Schulman was an American supplier of plastic compounding products, color concentrates, and additives before its acquisition by LyondellBasell in 2018.

Plastic Material of a wide range of synthetic or semi-synthetic organic solids

Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plastics to be moulded, extruded or pressed into solid objects of various shapes. This adaptability, plus a wide range of other properties, such as being lightweight, durable, flexible, and inexpensive to produce, has led to its widespread use. Plastics typically are made through human industrial systems. Most modern plastics are derived from fossil fuel-based chemicals like natural gas or petroleum; however, recent industrial methods use variants made from renewable materials, such as corn or cotton derivatives.

Charles Goodyear Medal Award

The Charles Goodyear Medal is the highest honor conferred by the American Chemical Society, Rubber Division. Established in 1941, the award is named after Charles Goodyear, the discoverer of vulcanization, and consists of a gold medal, a framed certificate and prize money. The medal honors individuals for "outstanding invention, innovation, or development which has resulted in a significant change or contribution to the nature of the rubber industry". Awardees give a lecture at an ACS Rubber Division meeting, and publish a review of their work in the society's scientific journal Rubber Chemistry and Technology.

Kumho Petrochemical South Korean multinational chemical company

Kumho Petrochemical Co., Ltd. is multinational chemical company based in South Korea, with headquarters in Seoul. It was founded in 1970 when Kumho Group struggled to secure raw materials for its bus and tire businesses. Kumho Petrochemical has a global market leadership in the manufacturing of synthetic rubbers with the world's largest production capacity based on SBR and BR by IISRP 2012. It focuses on synthetic rubbers, synthetic resins, specialty chemicals, electronic chemicals, energy, building materials and advanced materials as its core business.

Acrylonitrile styrene acrylate Chemical compound

Acrylonitrile styrene acrylate (ASA), also called acrylic styrene acrylonitrile, is an amorphous thermoplastic developed as an alternative to acrylonitrile butadiene styrene (ABS), but with improved weather resistance, and is widely used in the automotive industry. It is an acrylate rubber-modified styrene acrylonitrile copolymer. It is used for general prototyping in 3D printing, where its UV resistance and mechanical properties make it an excellent material for use in fused deposition modelling printers.

Christopher D. Pappas

Christopher Daniel Pappas is a special advisor to the CEO of Trinseo S.A., a Berwyn-based global materials company that manufactures plastics, latex, and synthetic rubber, among others. Pappas previously served as the company's president and chief executive officer, beginning in June 2010 when the Dow Chemical Company sold a group of its businesses and assets to Bain Capital under the name Styron. Pappas retired from the position of CEO as of March 4, 2019.

Sylvia Stoesser American chemist

Sylvia Marie Stoesser, was an American chemist. She was the first woman to be employed as a chemist at Dow Chemical Company. During her time at Dow, she made a number of major contributions, holding more than two dozen patents as a result of her research.

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