BERWYN, PA – (BUSINESS WIRE) –Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders and synthetic rubber, today announced the closing of the previously announced transaction to acquire the polymethylmethacrylates (PMMA) business of Arkema. PMMA is a transparent and rigid resin with a wide range of end uses that augments Trinseo’s existing offerings in several end markets including automotive, construction and construction, medical and consumer electronics.
A compelling strategic fit that will accelerate transformation
This acquisition serves as a catalyst to help Trinseo transform into a higher margin, less cyclical solutions provider. The transformative nature of the transaction will accelerate investments in growth opportunities for Trinseo’s Engineering Materials business globally; the transaction is also expected to generate approximately $ 50 million in annual synergies. In addition, the PMMA business is a strategic fit in that, in combination with Trinseo’s existing portfolio, it enhances Trinseo’s ability to provide solutions to clients in profitable markets. With future investments, it will be possible to leverage Trinseo’s global presence to provide solutions to its existing customers in Asia-Pacific, where Trinseo has a significant presence.
“Today is a special day. I am delighted to welcome our new colleagues and clients to the Trinseo family as we embark on this transformational journey together, ”said Frank Bozich, President and CEO of Trinseo. “This trip will bring us closer to our customers; create a more sustainable ecological footprint; and shorten innovation cycles that accelerate the process of bringing new cutting-edge solutions to market. ”
Laying the foundations for an even better future
The transaction will act as a trigger for an IT systems upgrade that will ultimately result in harmonized business processes across regions and business units that will lay the foundation for future growth.
Additional facts regarding the acquisition include:
Trinseo appoints Jean-Luc Béal as Senior Vice President, Engineered Materials and welcomes him to the Trinseo management team.
For Trinseo, the acquisition includes the addition of approximately 860 new employees from operations in France, Denmark, Italy, the United States and Mexico, with additional team members from around the world to support sales. and marketing.
Trinseo will add PMMA and MMA products and technologies through seven manufacturing plants and three R&D sites in Europe and North America.
Bozich added: “Over the coming years, integration will open up many opportunities for advancement and provide compelling career paths and growth opportunities for all Trinseo employees. ”
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber focused on providing innovative, sustainable and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders and supporting our customers’ sustainability goals in a wide range of end markets including automotive, electronics consumer, household appliances, medical devices, packaging, footwear and rugs. , paper and cardboard, building and construction, and tires. Trinseo had net sales of approximately $ 3.0 billion in 2020, with 17 manufacturing sites worldwide and approximately 2,600 employees. For more information, please visit: www.trinseo.com.
Caution regarding forward-looking statements
This press release may contain forward-looking statements, including, without limitation, statements regarding plans, objectives, goals, projections, strategies, future events or performance, underlying assumptions and others. statements, which are not statements of historical fact or future performance. Forward-looking statements can be identified by the use of words such as “expect”, “anticipate”, “intend”, “anticipate”, “see”, “will”, “may”, “could” , “See”, “tender,” “assume”, “potential”, “likely”, “target”, “plan”, “consider”, “seek”, “attempt”, “should”, “could”, ” want “or similar expressions mean. Forward-looking statements reflect management’s assessment of currently available information and are based on our current expectations and assumptions regarding estimated and future operating results, business strategies, competitive position, industry environment and potential growth opportunities and cost synergies related to the acquisition of MMA and PMMA business of Arkema SA our business, economy and other future conditions. forward-looking statements relate to the future, they are subject to uncertainties. inherent changes, risks and circumstances which are difficult to predict. Factors that could cause such a difference include, but are not limited to, our ability to successfully integrate the acquired MMA and PMMA businesses, generate expected cost savings and synergies, maintain customer relationships, retain key employees and grow the business profitably; and the factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A – “Risk Factors” and elsewhere in our other reports, documents and documents filed from time to time with the Securities and Exchange Commission of United States. As a result of these or other factors, our actual results may differ materially from those contemplated in forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We assume no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.