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MOSCOW (MRC) -- Trinseo, a global
materials solutions provider and manufacturer of plastics, latex binders and
synthetic rubber, has reached definitive agreements with Tyre Recycling
Solutions (TRS) on a commercial collaboration and an equity investment in TRS,
as per the company's press relese.
The transaction is expected to close
later this quarter, subject to ordinary closing conditions.
The new
collaboration agreement will see the two companies collaborate on research and
development, pooling their combined technology expertise to help global tire
manufacturers develop more sustainable tire formulations. Trinseo and TRS share
the long-term goal of developing new value-creating systems for the manufacture
of tires that reduce environmental footprint and create a sustainable outlet for
end of life tires.
“This collaboration is extremely important for
developing real circular solutions for the tire and technical rubber goods
industries. As a leading supplier of synthetic rubber to the tire industry, we
are committed to helping our customers achieve their sustainability goals and
believe that the most successful way to do this is through collaboration across
the value chain. The partnership with TRS will provide us with high quality
recycled tire feedstock to serve customers globally,” said Francesca Reverberi,
Vice President, Engineered Materials and Synthetic Rubber,
Trinseo.
Staffan Ahlgren, Chief Executive Officer, TRS, commented: “TRS
has already been working closely with Trinseo for several years and we are
excited to enter the next phase of our collaboration. TRS has developed
proprietary technologies to process end-of-life tires and deliver output
products with higher circular economical value. The partnership with Trinseo is
confirmation of the great strides we’ve made since the company was founded seven
years ago.”
The investment is aligned and consistent with Trinseo’s
recently announced 2030 Sustainability Goals which outline the company’s focus
on tackling climate change, embedding sustainability in its product portfolio,
promoting supplier and operational stewardship, and embodying responsibility as
an employer. Launched to coincide with the company’s ten-year anniversary, these
long-term goals are now at the heart of the company at every level.
As
MRC reported
previously, in mid-October, 2020, Trinseo (Berwyn, Pennsylvania) said it had
received mass-balance certification for three families of products that it
manufactures at sites in Europe: polystyrene (PS), at Tessenderlo, Belgium;
polycarbonate (PC), at Stade, Germany; and synthetic rubber, at Schkopau,
Germany.
According to ICIS-MRC Price
report, October prices of Russian PS continued their upward trend. A
shortage of material remained in the domestic market. Traders said
Nizhnekamskneftekhim reduced its offer prices for this month's PS purchases to
40%. October prices of Nizhnekamskneftekhim's general purpose polystyrene (GPPS)
grew for the agreed with buyers quantities to Rb89,000-95,000/tonne CPT Moscow,
including VAT, whereas high impact polystyrene (HIPS) prices - to
Rb93,000-99,000/tonne CPT Moscow, including VAT.
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 USD3.8 billion in net sales in
2019, with 17 manufacturing sites around the world, and approximately 2,700
employees. |
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