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Trinseo: Announces sale of synthetic rubber business

 Last Update: 2022-11-09
 Source: Internet
 Author: User

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Trinseo announced on Saturday (May 21) that it had reached a definitive agreement with Synthos to sell its synthetic rubber business for $491 million
.
Trinseo's synthetic rubber business in Schkopau, Germany, will be transferred to Synthos SA and its affiliates for approximately US$491 million
.
Excluding transaction-related costs, net cash proceeds are expected to be approximately $400 million
.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in 2022
.
Once the transaction is completed, approximately 440 employees in the business, mostly located in Schkopau, Germany, will join Synthos as a result
.
The transaction also includes the transfer of related manufacturing and R&D facilities in Schkobau, Germany, and related intellectual property
.

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