MOSCOW (MRC) -- Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, has announced that its Board of Directors authorized the company to distribute a quarterly repayment of equity of USD0.30 per share, as per the company's press release.
The repayment of equity will be a cash distribution payable on January 25, 2017, to shareholders of record as of the close of business on January 11, 2017.
As MRC reported earlier, Trinseo and its affiliate companies in Europe have announced price increases for all polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile styrene copolymer (SAN) grades. Effective as of 1 December 2016, or as existing contract terms allow, the December contract and spot prices for the product listed below increased as follows:
- STYRON general purpose polystyrene grades (GPPS), STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR170 per metric ton;
- MAGNUM ABS resins - by EUR100 per metric ton;
- TYRIL SAN resins - by EUR100 per metric ton.
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's 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