Styron L.L.C. to move headquarters to Philadelphia area

A spun-off Dow Chemical Co. division says it will relocate its headquarters to the Philadelphia area.

Styron L.L.C., now controlled by Bain Capital Partners, a private-equity firm, is looking for office space for 40 to 50 employees, some of whom will relocate from Midland, Mich. Others will be hired locally.

Spokeswoman Catherine Maxey said the new company would hire more people in Philadelphia than it would relocate from Midland.

The company says it is looking in the city and the suburbs for office space and has hired the real estate firm CBRE to help. It hopes to have the new site operating by early 2011.

The company, with $3.7 billion in annual sales, is relocating to the Philadelphia area to establish a separate identity from Dow, the nation's largest chemical company. It chose Philadelphia because of the area's international airport and quality of life, Maxey said.

Styron, which has 20 plant sites and 1,900 employees, manufactures synthetic rubber, latex, polystyrene, and related products for use in the automotive, consumer electronics, paper, tire, and other industries.

Its research and development, customer service, and some manufacturing will remain in Midland and have 180 employees.

Dow Chemical purchased Rohm & Haas Co. in Philadelphia in 2009 for about $16 billion and severely retrenched its operations. Dow officials now say they are preparing to grow again.