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.
By Trinseo, Press Release
Source: investor.trinseo.com
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