BOSTON (June 18, 2010)—Dow Chemical Co. and private equity company Bain Capital Partners, said they have closed the sale of Dow's Styron Division to an affiliate of Bain Capital.
Dow will retain a 7.5 percent equity position in Styron, which is now a privately held, global materials company. Also included in the transaction are several long-term supply, service and purchase agreements between Dow and Styron that will generate substantial additional value for both companies.
Dow said Styron is a leading materials company, bringing together plastics, rubber and latex businesses that share feedstocks, operations, customers and end users.
Styron had about $3.7 billion in revenue in 2009, with manufacturing facilities at 20 locations in 13 countries around the world. Styron has about 2,000 employees based in 30 countries.