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Trinseo enhances commitment to sustainability by appointing Francesca Reverberi as Chief Sustainability Officer

October 14/2021

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics and latex binders, has announced that Francesca Reverberi will assume the newly created role of SVP and Chief Sustainability Officer, as per the company's press release as of 12 October.

Effective immediately, in this new role, Reverberi is responsible for enhancing Trinseos leadership position in sustainability by continuing to build out its portfolio of sustainable chemistries and driving its corporate and businesses strategies in this very important area. Reverberi is charged with propelling the company towards accomplishing its ambitious 2030 Sustainability Goals centered around increasing the sustainability of its product portfolio and operations, minimizing its impact on climate change, driving supplier responsibility, establishing a more sustainable workforce and building a strong sustainability reputation in the market.

The creation of this new role of Chief Sustainability Officer and the appointment of Francesca to this inaugural role will bolster Trinseos already strong commitment to Sustainability, said Frank Bozich, Trinseo President and Chief Executive Officer.

Francesca will remain as a member of Trinseos Management team and will continue to lead the synthetic rubber business until the sale to Synthos has been completed.

As MRC reported earlier, in May 2021, Trinseo entered into a definitive agreement to sell its synthetic rubber business based in Schkopau, Germany  to Synthos S.A. and its affiliates for an enterprise value of approximately USD491 million, comprised of USD449.4 million of cash and the assumption of approximately USD41.6 million of pension liabilities. The expected net cash proceeds are approximately USD400 million after transaction-related costs and taxes. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in 2022.

We remind that Trinseo and its affiliate companies in Europe have announced a price increase for all polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile-styrene copolymer (SAN) in Europe. Effective October 1, 2021, or as existing contract terms allow, the contract and spot prices for the products listed below rose, as follows:

     - STYRON general purpose polystyrene grades (GPPS) -- by EUR55 per metric ton;
     - STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech high impact polystyrene grades (HIPS) - by EUR55 per metric ton;
     - MAGNUM ABS resins - by EUR60 per metric ton;
     - TYRIL SAN resins - by EUR45 per metric ton.

According to ICIS-MRC Price report, in Russia, October prices of Nizhnekamskneftekhim's GPPS were in the range of Rb152,750-163,700/tonne CPT Moscow, including VAT, and HIPS prices were at Rb156,750-167,700/tonne CPT Moscow, including VAT. Penoplex contracted its GPPS quantities at Rb169,000-171,000/tonne CPT Moscow, including VAT, in October, whereas last week's prices of Gazprom neftekhim Salavat's GPPS were heard at Rb152,500-156,500/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 USD3.0 billion in net sales in 2020, with 17 manufacturing sites around the world, and approximately 2,600 employees.
Author:Margaret Volkova
Tags:Europe, PS, ABS, GPPS, SAN, HIPS, petrochemistry, synthetic rubbers, Synthos, Trinseo (Styron), sustainable development.
Category:General News
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