Trinseo Completes Acquisition of Heathland B.V.

Rhea-AI Summary

Trinseo (NYSE: TSE) has successfully completed the acquisition of Heathland B.V., a prominent recycler of post-consumer and post-industrial plastic waste based in the Netherlands. This strategic move aligns with Trinseo’s commitment to advancing a circular economy and enhancing its sustainability efforts. Heathland's expertise in mechanical and chemical recycling will provide Trinseo access to high-quality recycled raw materials essential for various high-end applications. Trinseo aims to incorporate these capabilities into its operations, promoting sustainability and supporting its 2030 sustainability goals.

Positive

• Acquisition of Heathland B.V. enhances Trinseo's recycling capabilities.
• Supports Trinseo's 2030 sustainability goals, focusing on climate change and sustainability in product offerings.
• Expands market presence in Europe and strengthens commitment to a circular economy.

Negative

• None.

 A significant step forward in achieving the Company’s goals of advancing a circular economy

HORGEN, Switzerland--(BUSINESS WIRE)-- Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics and latex binders, announced today the completion of the acquisition of Heathland B.V. (“Heathland”), a leading collector and recycler of post-consumer (PCR, EoL) and post-industrial (PIR) plastic wastes in Europe.

As a plastic waste collector and recycler based in Utrecht, the Netherlands, Heathland is focused on converting PCR and PIR polymethyl methacrylate (PMMA), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polystyrene (PS) and other thermoplastic waste. The company collects, pre-treats and processes plastic waste materials using mechanical and chemical recycling processes, and captures the materials’ maximum value by transforming them into high quality recycled raw materials for a wide range of high-end applications. Heathland is well established in Europe with several notable projects, including MMAtwo and REVOLUTION, which are funded by the Horizon 2020 program of the European Commission.

“Today is another exciting milestone in Trinseo’s transformation journey in becoming a global specialty materials and sustainable solutions provider. The addition of Heathland to the Trinseo family enables the group to have access to comprehensive recycling technologies and plastic wastes as feedstock,” Francesca Reverberi, SVP and Chief Sustainability Officer of Trinseo commented. “The shared sustainability vision of both companies has now become one. We will continue to invest in the movement toward a circular economy.”

The acquisition is aligned with Trinseo’s 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.

About Trinseo

Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics and latex binders with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, and building and construction. Trinseo had approximately $3.0 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,400 employees. For more information, please visit: www.trinseo.com.

Cautionary Note on Forward-Looking Statements

This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to, our ability to successfully execute our transformation strategy and business strategy; the evaluation and likelihood of success of the proposed divestiture of our styrenics businesses; our ability to integrate acquired businesses; global supply chain volatility, increased costs or disruption in the supply of energy or raw materials or increased costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; and those discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results, performance or achievements may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220103005024/en/

Press Contact:

Trinseo

Peggy Sung

peggysung@trinseo.com

Source: Trinseo

FAQ

What is the significance of Trinseo's acquisition of Heathland B.V.?

The acquisition enhances Trinseo's recycling capabilities and aligns with its sustainability goals, facilitating a transition to a circular economy.

How does the acquisition of Heathland B.V. impact Trinseo's sustainability efforts?

It strengthens Trinseo's commitment to sustainability by incorporating advanced recycling technologies and high-quality recycled materials.

What types of plastic waste does Heathland B.V. specialize in recycling?

Heathland specializes in recycling post-consumer and post-industrial plastic waste, including materials like PMMA, PC, ABS, and PS.

When was the acquisition of Heathland B.V. completed by Trinseo?

The acquisition was announced and completed on the date of the press release, emphasizing a significant step in Trinseo's transformation journey.