US styrenics, latex and rubber producer Styron has now officially changed its name to Trinseo. The company had previously changed the name of some of its legal entities.
The former Dow Chemical business with $5.3 billion in annual sales was floated on the New York Stock Exchange last year by private equity investor Bain Capital, Dow and the company's management at a price of $19 per share.
Revenue of around $200 million, net of underwriting fees and estimated expenses was generated by the sale, at the conclusion of which 21% of the shares were expected to be in public hands.
Explaining the new name, CEO Chris Pappas said the name comes from the word "intrinsic" and "reflects how Trinseo's technologies and materials play an intrinsic role in the innovative and sustainable solutions that its customers require in developing the next generation of products. "
