2 May 2019
Trinseo brings more than six decades of leadership,
global reach, and proven latex binder technologies
to our customers.
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DETAILS
Trinseo (NYSE: TSE),
a global materials solutions provider
and manufacturer of plastics, latex binders
and synthetic rubber, today announced it has signed
a definitive agreement with
The Dow Chemical Company
to acquire latex production facilities
and related infrastructure
at Rheinmunster, Germany.
The transaction is expected to close
in the second half of 2019, following
European Union regulatory approval
and customary closing conditions.
Consideration for the transaction
is approximately €40 million
in the form of assumed pension liabilities
for transferred employees.
The transaction includes
* full ownership and operational control of
both latex production facilities at Rheinmunster,
as well as site infrastructure and services contracts,
* and approximately 114 employees
who are expected to transfer from Dow to Trinseo.
The acquisition adds to
Trinseo’s grid of production facilities across Europe –
including
* an existing Trinseo latex production plant
in Rheinmunster, Germany, as well as
* operations in Hamina, Finland;
* Norrkoping, Sweden; and
* Terneuzen, The Netherlands.
Together this grid of Latex Binders production facilities
allows Trinseo to supply customers
all across Europe, the Middle East and northern Africa.
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“This acquisition is directly aligned with
Trinseo’s strategy
to grow its Latex Binders businesses,
particularly in applications serving
the Adhesives and Construction industry,
as well as Specialty Paper,”
“Taking full control of these advantaged
manufacturing assets will allow Trinseo
to produce a wider variety of products,
invest capital for technology upgrades,
and optimize operations for
the mix of products and chemistries
most needed by our customers.”
**********************************************
Senior Vice President and Business President,
Performance Materials
“This acquisition demonstrates
our commitment to our customers,
as it will allow us to extend
the range of products we can produce,”
“Customers will have access to
a broader offering
in Trinseo’s portfolio of Latex Binders products.
The Rheinmunster site is well situated
for future expansion, as it is already the home to
our Global Research and Development center
for Latex Binders, and is geographically central
to serve many of our European customers.”
Editorial Information
-
David StasseInvestorContactTrinseo LLC
+1 610 240 3207
dstasse@trinseo.com -
Donna St. GermainPress
ContactTrinseo LLC
+1 610 240 3307
stgermain@trinseo.com -
Carolin Skupin
Press Contact
Palmer Hargreaves
+ 49 221 933 22 247
cskupin@palmerhargreaves.
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