The acquisition marks another major step in Trinseo's transformation to a specialty materials and sustainable solutions provider
BERWYN, Pa. [September 1, 2021] -- Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics and latex binders, announced today the completion of the previously disclosed transaction to acquire Aristech Surfaces LLC ("Aristech"), a leading North America manufacturer and global provider of polymethyl methacrylates (PMMA) continuous cast, solid surface and architectural resin sheets serving the wellness, architectural, transportation and industrial markets.
This acquisition is another important step in Trinseo's transformation efforts, focused on becoming a global specialty materials and sustainable solutions provider. The addition of Aristech strengthens Trinseo's position in acrylic solutions and broadens the company's product portfolio offerings in important markets such as building and construction as well as consumer goods. Additionally, Aristech is expected to accelerate Trinseo's growth in Asia. The increased exposure to new markets, and improved ability to generate cash and stable margins, is expected to ultimately lead to greater growth opportunities.
"Today is an exciting day for Trinseo, as we welcome all Aristech employees to the Trinseo family. I look forward to the future transformation and growth opportunities that exist between our two organizations," said Frank Bozich, Trinseo President and Chief Executive Officer. "Aristech is an ideal strategic fit for Trinseo and will serve as an additional catalyst for our transformation to a higher growth, higher margin and less cyclical specialty materials provider to better serve our customers worldwide."
The acquisition includes the addition of approximately 300 employees across two manufacturing and R&D locations in Florence, Kentucky and Belen, New Mexico. Aristech will continue to operate as a stand-alone entity within the Engineered Materials segment, while Trinseo continues the integration of the PMMA business it purchased earlier this year.
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics and latex binders 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 and building and construction. Trinseo had approximately $3.0 billion in net sales in 2020, with 26 manufacturing sites around the world, and approximately 3,800 employees. For more information, please visit: www.trinseo.com.
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This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management's evaluation of information currently available and are based on our current expectations and assumptions regarding estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities and cost synergies relating to the acquisition of Aristech, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to, our ability to successfully integrate the acquired Aristech, generate expected cost savings and synergies, maintain relationships with customers, retain key employees and profitably grow the business; and those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake 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.