Issue Date: July 4, 2011
Trinseo, Aspen Aerogels File For Stock Offerings
Trinseo, the former Dow Chemical styrenics business, which was sold to Bain Capital as Styron in June of last year, has filed for an initial public offering of stock worth up to $400 million. The firm, which makes several types of emulsion polymers and plastics, had $5.0 billion in sales in 2010 and $56.7 million in net income. Most of the company’s business is outside North America. In its filing, Trinseo says it will use the capital raised for product development, manufacturing facilities in emerging markets, and acquisitions. Separately, Aspen Aerogels filed documents for an IPO that would raise up to $115 million. Along with Cabot Corp., Aspen is one of two U.S. manufacturers of aerogel, an ultralight silica-based material used in insulation applications. The firm, which is expanding its aerogel facilities in East Providence, R.I., lost close to $10 million last year on sales of $43.2 million.
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