Welcome to our dedicated page for Trinseo Plc news (Ticker: TSE), a resource for investors and traders seeking the latest updates and insights on Trinseo Plc stock.
Trinseo Plc (TSE) is a global leader in advanced materials manufacturing, producing polymers, latex, and rubber solutions for automotive, construction, and industrial applications. This page aggregates all official company announcements, press releases, and market updates to serve as a primary resource for stakeholders.
Access real-time updates on earnings reports, strategic partnerships, product innovations, and operational developments. Investors and industry professionals can efficiently track Trinseo’s market position, sustainability initiatives, and technological advancements through verified sources.
Content includes updates across Trinseo’s core segments: Latex Binders, Engineered Materials, and Polymer Solutions, with insights into R&D breakthroughs and regulatory compliance. Bookmark this page for streamlined access to critical updates influencing material science markets and Trinseo’s global operations.
Trinseo (NYSE: TSE) has commenced an information and consultation process with its Works Council regarding the potential closure of its styrene monomer production facility in Boehlen, Germany, which has a capacity of 300 kilotons. The site recorded a loss of approximately $30 million over the past year due to high energy costs and low customer demand. CEO Frank Bozich noted the challenges facing the facility and indicated that closure could enhance profitability and support the company's sustainability goals for 2030.
Trinseo (NYSE: TSE) announced a quarterly cash dividend of $0.32 per share, payable on October 20, 2022, to shareholders recorded as of October 6, 2022. The company reported net sales of approximately $4.8 billion in 2021 and specializes in material solutions across various industries, including consumer goods and medical. This dividend reflects Trinseo's commitment to providing returns to its shareholders while maintaining a focus on innovative and sustainable practices.
Trinseo (NYSE: TSE) has authorized a new share repurchase program of up to $200 million, set to expire in 18 months. This follows the full utilization of a previous $200 million buyback initiated in December 2021. The program aims to enhance shareholder value while supporting the company's transformation in specialty materials. CEO Frank Bozich highlighted the company's strong cash generation and strategic growth opportunities as key reasons for the program's initiation.
Trinseo (NYSE: TSE) has appointed Han Hendriks as Chief Technology Officer (CTO), effective October 1, 2022. As a member of the executive leadership team, he will focus on developing innovative technologies and sustainable solutions. Hendriks previously served as CTO at Yanfeng, where he led technology vision and strategy. His background includes a 16-year tenure at Johnson Controls and experience at Fluke and Océ. Trinseo aims to leverage his expertise during its transformation into a specialty material solutions provider.
Trinseo (NYSE: TSE) reported its Q2 2022 results, showing a net income from continuing operations of $37 million and a diluted EPS of $1.00. Net sales increased by 12% to $1.426 billion, mainly driven by higher prices due to increased raw material costs. Adjusted EBITDA was $164 million, down $75 million year-over-year due to lower margins and sales volume. Cash used in operations was $83 million, resulting in a negative Free Cash Flow of $115 million. The company paused its sale of the styrenics business amid economic uncertainties but remains committed to its transformation strategy.
Trinseo (NYSE: TSE) has paused the sale of its styrenics business due to unfavorable economic conditions and financing markets, which have hindered the realization of expected asset value. Initially exploring the divestiture in November 2021, the company received significant interest but could not proceed amid economic uncertainty, particularly related to the Ukraine conflict. CEO Frank Bozich reiterated the commitment to their transformation strategy while utilizing current cash generation for organic growth, sustainability initiatives, and returning cash to shareholders.
Trinseo has launched ALTUGLAS™ R-Life Acrylics, a new series of sustainable materials, in the European market. This brand includes recycled and bio-based PMMA for various applications, with products such as extruded sheets, cast sheets, and acrylic resins. The products reduce global warming potential significantly, achieving up to a 53% reduction for extruded sheets. This series underscores Trinseo's commitment to sustainability and innovative recycling technologies.
Trinseo (NYSE: TSE) will host a conference call on August 9, 2022, at 10 a.m. Eastern Time to discuss its Q2 2022 financial results. Commentary will be provided by CEO Frank Bozich and CFO David Stasse, followed by a Q&A session. The company plans to release its financial results on August 8, 2022, after market close. Trinseo reported approximately $4.8 billion in net sales for 2021. Participants can register for the event via the provided links for both Q&A and listening options.
Trinseo (NYSE: TSE) has partnered with CEDAP to supply recycled polystyrene (rPS) for yogurt cups of the French brand Les 300 Laitiers Bio since April 2022. Utilizing Trinseo's STYRON™ CO2RE™ CR55 resin, which contains 55% recycled content, CEDAP produces PS sheets that are thermoformed for final products. All involved companies are ISCC+ mass balance certified, ensuring sustainable practices. A lifecycle analysis revealed that using rPS can reduce CO2 emissions by 75%. This collaboration underscores Trinseo's commitment to sustainability and innovation in materials.
