Sector News

Trinseo completes acquisition of Synthomer’s Germany-based tire cord binders business

May 1, 2020
Energy & Chemical Value Chain

Trinseo says it has completed the cash acquisition of the Germany-based vinyl pyridine latex business from Synthomer (Harlow, UK). The undisclosed value of the transaction “is not material to the company,” it says.

Synthomer sold the latex tire cord binders business as part of the process to gain approval from the European Commission for its own acquisition of Omnova Solutions, which was completed in early April. The vinyl pyridine latex business will complement Trinseo’s expertize in coatings and tire ingredients, Trinseo says.

The transaction includes product recipes, customer lists, and associated intellectual property related to the business. No physical assets or employees will transfer to Trinseo, which says it has established agreements with Synthomer for contract manufacturing of the products to continue at Synthomer’s production facility at Marl, Germany.

Synthomer said in its original announcement of the planned sale to Trinseo that the divestment represented less than 0.5% of its 2019 sales.

By: Mark Thomas

Source: Chemical Week

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