Trinseo completes sale of synthetic rubber business to Synthos
Trinseo says the close of sale helps it transform into a higher margin, less cyclical specialty materials and sustainable solutions provider.
U.S.-based material supplier Trinseo has completed the sale of its synthetic rubber business based in Schkopau, Germany to Poland’s Synthos SA and its affiliates for US$491 million.
The deal was first announced in October 2021.
Trinseo’s synthetic rubber business includes approximately 440 employees, mostly located at the Schkopau sites. The transaction also includes the transfer of the associated Schkopau-based manufacturing and research and development facilities, as well as related intellectual property.
In a Dec. 1 news release, Trinseo officials called the deal “another step forward in a series of strategic actions”, including the recent acquisitions of Arkema’s PMMA business in May 2021 and Aristech Surfaces LLC in September 2021, as well as the planned divestiture of its styrenics businesses, for which a formal sales process is expected to launch in the first quarter of 2022. “These steps are part of [our] transformation into a higher growth, higher margin and less cyclical specialty and sustainable materials provider,” the release said.
Trinseo is headquartered in Berwyn, Pa.