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Trinseo to Acquire Latex Binders Assets in Germany

Accelerates Growth through Expanded Product Portfolio for Adhesives and Construction Applications

BERWYN, Pa. - Thursday, May 2, 2019

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.  

“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,” said Frank Bozich, President and CEO of Trinseo. “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.”     

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. 

“This acquisition demonstrates our commitment to our customers, as it will allow us to extend the range of products we can produce,” said Hayati Yarkadas, Senior Vice President and Business President, Performance Materials.  “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.”

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.

About Trinseo

Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering 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 the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. Trinseo had approximately $3.8 billion in net sales with 2,700 employees globally in 2019. For more information, please visit: www.trinseo.com.

Note on Forward-Looking Statements

This press release may contain “forward-looking statements” including, without limitation, statements concerning plans, objectives, goals, projections, expectations, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like “expect,” “estimate,” “will,” “may,” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on the Company’s current expectations and assumptions regarding the impact from the COVID-19 pandemic, the Company’s business, the economy and other future conditions. Specific factors that could cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, risks related to the ongoing impact of the COVID-19 pandemic and those discussed in the Company’s Annual Report for the year ended December 31, 2019 filed with the Securities and Exchange Commission (“SEC”), in subsequent Quarterly Reports on Form 10-Q and in other filings and furnishings made by the Company with the SEC from time to time. Other unknown or unpredictable factors could also have material adverse effects on the Company’s performance. As a result of these or other factors, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and are not a guarantee of future performance. The Company undertakes 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.

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