Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant
30 September 2022 - 6:15AM
Business Wire
Trinseo (NYSE: TSE), a specialty material solutions provider,
today announced it has initiated an information and consultation
process with the Works Council of Trinseo Deutschland GmbH
regarding the potential closure of its styrene monomer production
site in Boehlen, Germany. The facility, which has a nameplate
annual capacity of 300 kilotons, generated negative profitability
of approximately $30 million over the last four quarters ending Q2
2022.
Frank Bozich, President and Chief Executive Officer of Trinseo,
commented, “Given the current economic outlook of higher inflation,
lower customer demand and elevated energy costs, we are evaluating
asset optimization across our portfolio.”
Bozich continued, “The cost position of the Boehlen facility is
challenged due to the current energy cost environment in Europe as
well as the facility’s smaller scale, and it’s difficult to
envision significant earnings improvement at the site in the near
to medium term. Therefore, we have decided to evaluate the
potential closure of this plant. In addition to improved
profitability for Trinseo, we believe a closure will aid in
achieving our 2030 sustainability goals, as Boehlen is one of our
most carbon intensive plants.”
About Trinseo
Trinseo (NYSE: TSE) a specialty material solutions provider,
partners with companies to bring ideas to life in an imaginative,
smart, and sustainability-focused manner by combining its premier
expertise, forward-looking innovations and best-in-class materials
to unlock value for companies and consumers. From design to
manufacturing, Trinseo taps into decades of experience in diverse
material solutions to address customers’ unique challenges in a
wide range of industries, including consumer goods, mobility,
building and construction, and medical. Trinseo’s approximately
3,400 employees bring endless creativity to reimagining the
possibilities with clients all over the world from the company’s
locations in North America, Europe, and Asia Pacific. Trinseo
reported net sales of approximately $4.8 billion in 2021. Discover
more by visiting www.trinseo.com and connecting with Trinseo on
LinkedIn, Twitter, Facebook and WeChat.
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Trinseo Andy Myers Tel: +1 610-240-3221 Email:
aemyers@trinseo.com
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