Trinseo has signed a definitive agreement with The Dow Chemical Co. 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.
By Mary Page Bailey
Source: Chemical Engineering
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
