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| 2021-11-12, 13:32 |
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Trinseo: Planned Divestiture of Styrenics Businesses
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Trinseo recently reported the financial results for the third Quarter 2021 and also announced planned divestiture of Styrenics Businesses. According to this, the company has begun work to explore the divestiture of its styrenics businesses and plans to launch a formal sales process in the first quarter of 2022. The scope of this potential divestiture is expected to include the Feedstocks and Polystyrene reporting segments as well as the Company’s 50 percent ownership of Americas Styrenics. Advert Frank Bozich, President and Chief Executive Officer, stated: “The separation of the styrenics businesses would represent another key step in our transformation toward becoming a specialty materials and sustainable solutions provider. We will continue to prioritize investments in higher growth, higher margin and lower earnings volatility areas such as Engineered Materials and CASE with an ongoing focus on sustainability, including the continued decrease in our CO2 intensity through various initiatives including the transformation of our portfolio.”
More information: www.trinseo.com |
Trinseo Europe GmbH, Horgen, Switzerland
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