Facility to continue operations under new ownership
Orange, Texas, [JUNE 3, 2019] – Lion Elastomers, LLC today announces the execution of a purchase agreement for an Orange, Texas production site owned and operated by Firestone Polymers, LLC, a wholly owned subsidiary of Bridgestone Corporation. The plant manufactures polybutadiene and styrene-butadiene copolymers, produced under the Stereon™, Diene™, and Duradene™ trade names. These products are complementary to Lion’s current portfolio and will further strengthen Lion’s ability to support the synthetic rubber industry once the deal has closed.
“We have had a strong professional relationship with Bridgestone for decades and we are looking forward to maintaining this relationship while we continue to support the customers of the Orange, Texas, facility,” said Jesse Zeringue, CEO and president of Lion Elastomers. “This asset purchase will provide our company with the opportunity to further diversify our business and add additional product offerings to current and new customers.”
This purchase marks Lion’s second strategic acquisition in less than five years and is in line with Lion’s initiative to expand its business and provide greater value enhancement to its customers.