MOSCOW (MRC) -- Trinseo S.A., a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber has announced the final results of its tender offer, in which Trinseo offered to purchase up to 1,165,000 of its ordinary shares at a price of USD35.63 per share on the terms and subject to the conditions set forth in the Offer to Purchase, as per the company's press release.
In accordance with the terms and subject to the conditions of the offer, Trinseo has accepted for purchase 38,702 of its ordinary shares at a price of USD35.63 per share, for a total purchase price of USD1,378,952.26.
The company conducted the tender offer in order to satisfy certain requirements of Luxembourg law following the repurchase by the Company of 1,600,000 ordinary shares as part of the secondary offering of the company’s ordinary shares that was completed on March 24, 2016.
As MRC reported earlier, in May 2016, Trinseo and its affiliate companies in Europe increased prices of all polystyrene (PS), ABS and SAN grades. Thus, the May contract and spot prices for the products listed below rose as follows:
- STYRON general purpose polystyrene grades (GPPS), STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR25 per metric ton;
- MAGNUM ABS resins - by EUR35 per metric ton;
- TYRIL SAN resins - by EUR20 per metric ton.
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. TrinseoпїЅs technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD4.0 billion in revenue in 2015, with 18 manufacturing sites around the world, and more than 2,200 employees.
MRC