BATON ROUGE, La. (Nov. 2)—Lion Chemical Capital L.L.C. has closed on the sale of DSM Copolymer Inc.'s SBR business and named Paul Saunders as president of the acquired firm.
Lion Copolymer L.L.C.—as the business will be called—will continue to be headquartered in Baton Rouge.
"We look forward to building a strong and growing company," Saunders said. "An early top priority will be to promote a safe and environmentally responsible workplace."
Saunders previously worked for Peter De Leeuw, Lion Chemical managing director, at Sterling Chemicals Inc. as plant manager of the Texas City, Texas, plant. The facility employed about 1,200 at the time, De Leeuw said, making styrene, acrylonitrile, plasticizers and other chemicals.
In 1999, he became president of Sterling Fibers and later put together a team and bought the unit from Sterling. When De Leeuw asked him to come aboard Lion Copolymer, Saunders sold out his interest in the fibers business to his partners and started as president on Nov. 2.
De Leeuw said Lion Copolymer will have revenues of more than $200 million. "Our intention is to be the premier supplier to our customers by emphasizing quality, reliability and focusing on meeting customer needs," he said.
Lion Chemical last year purchased PolyOne Corp.'s rubber compounding business and operates it as Excel Polymers L.L.C. It has revenues of more than $400 million
Excel and Lion Copolymer will operate separately.