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Article: Kraton plansto go public.(News)
- Article from:
- Plastics News
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Frank Esposito
Kraton Polymers LLC one of the world's largest styrenic block copolymer makers is going public.
Houston-based Kraton announced the move in an Oct. 1 news release, but no date was listed for the first public offering of stock in the company.
In the release, officials said they expect to use the net proceeds of the stock offering to repay a portion of its senior secured credit facility, and use the remaining net proceeds for general corporate purposes, including the funding of capital expenditures.
Kraton posted sales of almost $1.2 billion in 2008, up 10 percent vs. the prior year. The firm's Kraton-brand SBCs ...