Berwyn, PA – Trinseo announced the closing of the previously announced transaction to acquire Arkema’s polymethyl methacrylates (PMMA) business. PMMA is a transparent and rigid resin with a wide range of end uses that augments Trinseo’s existing offerings across several end markets including automotive, building and construction, medical and consumer electronics.
This acquisition serves as a catalyst for helping 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 Engineered Materials business globally; the transaction is also expected to generate approximately $50 million of annual synergies. Additionally, 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 customers in profitable markets. With future investments, there will be the opportunity 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 thrilled to welcome our new colleagues and customers to the Trinseo family, as we embark on this transformation journey together,” said Frank Bozich, Trinseo President and Chief Executive Officer. “This journey will bring us closer to our customers; create a more sustainable, environmentally-friendly footprint; and shorten the cycles of innovation that accelerate the process of bringing new, industry-leading solutions to market.”
The transaction will act as a trigger for an IT-systems upgrade that ultimately will result in harmonized business processes across regions and business units that will lay the foundation for future growth.
Additional facts about the acquisition include: Trinseo appoints Jean-Luc Béal as Senior Vice President, Engineered Materials and will welcome 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 globe supporting sales and marketing; Trinseo will add PMMA and MMA products and technologies via seven manufacturing plants and three R&D locations in Europe and North America.
Bozich added: “Over the coming years, the integration will unlock many opportunities for advancement and will provide compelling career paths and growth opportunities for all Trinseo employees.”