Trinseo

Trinseo's precursor Styron was formed in August 2009 when Dow Chemical Company combined several of its businesses--styrenics; polycarbonate and compounds & blends; Dow Automotive plastics; emulsion polymers (paper and carpet latex); and synthetic rubber — as part of a larger process of identifying and selling non-strategic assets.{{Cite web|url=http://www.dow.com/en-us/news/press-releases/Dow%20Closes%20Sale%20of%20Styron%20Division%20to%20Bain%20Capital%20for%20163%20Billion |title=Dow Closes Sale of Styron Division to Bain Capital for $1.63 Billion |publisher=Dow Chemical Company (press release)|date=June 17, 2010 |access-date =August 27, 2010}}{{Cite web|url=http://www.canplastics.com/economy/dow-puts-new-styron-business-up-for-sale/1000336597/ |title=Dow puts new Styron business up for sale |publisher=Canadian Plastics |date=August 3, 2009 |access-date =August 27, 2010}}

Several private equity firms bid on Styron, including TPG Capital, Apollo Management, and Lotte Group.{{cite news|url=https://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704089904575094052014627436.html |title=TPG in lead for Dow Chemical group |website=The Wall Street Journal |date=March 1, 2010 |access-date =August 27, 2010 | first1=Jeffrey | last1=Mccracken | first2=Peter | last2=Lattman}}{{Cite web|url=http://ih.advfn.com/p.php?pid=nmona&article=41002429 |title=Lotte Group Considering Buying Dow Chemical Unit Styron |publisher=Dow Jones News |date=January 7, 2010 |access-date =August 27, 2010}} On March 2, 2010, Bain Capital announced that it would purchase the newly formed company for $1.63 billion,{{cite news|url=http://dealbook.blogs.nytimes.com/2010/03/02/bain-capital-to-buy-dow-unit-for-1-63-billion/ |title=Bain Capital to buy Dow unit for $1.63 billion |website=The New York Times |date=March 2, 2010 |access-date =August 27, 2010}} with Dow retaining a 7.5% stake. The sale was finalized in June 2010.{{Cite web|url=http://www.sandiegouniontribune.com/sdut-dow-chemical-sell-styron-to-bain-for-163-billion-2010mar02-story.html |title=Dow Closes Sale Of Styron Division To Bain Cap For $1.63 Billion |work=San Diego Union Tribune |date=March 2, 2010 |access-date =August 27, 2010}}

The name Trinseo was chosen in 2012.{{cite web|title=Trinseo, formerly Styron, trading on NYSE|url=http://www.plasticsandrubberasia.com/june2014/company8.html|website=Plastics and Rubber Asia|publisher=Trinseo, formerly Styron, trading on NYSE|access-date=21 July 2014}} By February 2015, all legal entities worldwide had changed to the name Trinseo.{{cite news|title=Styron Completes Change of Company Name to Trinseo|url=http://www.trinseo.com/News-And-Events/Trinseo-News/2015/January/Styron-Completes-Change-of-Company-Name-to-Trinseo|access-date=27 September 2017|work=Trinseo News & Events|date=February 2, 2015}}

As of 2016, Bain sold all of its stock in Trinseo, grossing $1.69 billion for 37,269,567 shares, resulting in Trinseo's “full independence as a public company.” In November 2017, Trinseo started a MAGNUM ABS production line manufacturing plant at the Zhangjiagang, China site.{{Cite news|url=https://www.plasticsinsight.com/trinseo-started-new-abs-production-line-manufacturing-plant-zhangjiagang-china/|title=Trinseo started-up a New ABS Production Line at its manufacturing plant at Zhangjiagang, China - Plastics Insight|date=2017-11-21|work=Plastics Insight|access-date=2018-06-11|language=en-US}}

In March 2023, over 8,000 gallons of "latex finishing material" leaked into Otter Creek, a tributary of the Delaware River, from a Trinseo plant in Bucks County, Pennsylvania.{{cite news |last1=Wood |first1=Anthony R. |title=More than 8,000 gallons of hazardous material spills in a Bucks County creek near the Delaware River |url=https://www.inquirer.com/news/toxic-spill-delaware-river-otter-creek-bucks-county-20230325.html |access-date=26 March 2023 |work=Philadelphia Inquirer |language=en}}{{cite news |last1=Sharber |first1=Cory |title=Advisory issued out of an 'abundance of caution' following Delaware River chemical spill |url=https://whyy.org/articles/pa-bristol-township-latex-chemical-spill-delaware-river-water-safety/ |access-date=26 March 2023 |work=WHYY |date=26 March 2023}} Well over a million residents of nearby areas--including more than half of the city of Philadelphia--were at least temporarily urged not to drink their tap water because of potential toxic contamination from the leak, causing widespread panic and shortages of bottled water.{{Cite web |last=Zhou |first=Li |date=2023-03-27 |title=What is going on with Philadelphia's drinking water? |url=https://www.vox.com/politics/2023/3/27/23658812/philadelphia-drinking-water-chemical-spill-delaware-river |access-date=2023-03-28 |website=Vox |language=en}}{{Cite web |title=Philly residents rush to buy bottled water following advisory |url=https://www.cbsnews.com/philadelphia/news/philly-residents-rush-to-buy-bottled-water-following-advisory/ |access-date=2023-03-28 |website=www.cbsnews.com |date=27 March 2023 |language=en-US}}{{Cite web |last=McCarthy |first=Lizzy Ravitch {{!}} Erin |title=Panic and confusion fuel a run on bottled water in Philadelphia, even in areas unaffected by the chemical spill |url=https://www.inquirer.com/business/philadelphia-bottled-water-near-me-shortage-updates-trinseo-chemical-spill-20230327.html |access-date=2023-03-28 |website=The Philadelphia Inquirer |date=27 March 2023 |language=en}} Work at the plant, which had been responsible for at least four other contamination incidents since 2010, was temporarily halted by Trinseo.{{cite news |last1=Jacob |first1=Denny |title=Trinseo Says Latex Product Accidently Released Into Pennsylvania Rivers Due to Equipment Failure |url=https://www.marketwatch.com/story/trinseo-says-latex-product-accidently-released-into-pennsylvania-rivers-due-to-equipment-failure-832d7ee5 |access-date=27 March 2023 |work=MarketWatch |date=27 March 2023}}{{Cite web |last=Briggs |first=Ryan W. |title=Bristol plant that spilled chemicals into Philly's water supply had other mishaps over the last decade |url=https://www.inquirer.com/news/trinseo-chemical-spill-delaware-river-bristol-township-20230327.html |access-date=2023-03-28 |website=The Philadelphia Inquirer |date=27 March 2023 |language=en}} Shares of the company fell after the leak.{{cite news |last1=Root |first1=Al |title=Trinseo Shares Drop After Chemical Spill at Pa. Plant |url=https://www.barrons.com/articles/philadelphia-pennsylvania-chemical-spill-trinseo-stock-price-49ffec75?mod=article_signInButton |access-date=28 March 2023 |work=Barrons |date=27 March 2023}}

Trinseo is headquartered in Wayne, Pennsylvania.

Trinseo has approximately 3,400 employees{{cite news|url=https://investor.trinseo.com/home/about-us/default.aspx |first=|last= |title=About Us|date= November 15, 2022 |access-date=November 15, 2022|work=Investor.trinseo.com}} in North America, Europe and Asia Pacific.

Styron was the #67 ranked chemical company globally in 2011, posting sales of $6.193B.{{cite news|last=Davis|first=Nigel|title=ICIS Top 100 Chemical Companies 2012|access-date=14 April 2013|newspaper=ICIS Chemical Business|date=September 10–16, 2012|page=34|url=https://www.icis.com/assets/getasset.aspx?ItemID=792459}}

As of 2013, Trinseo's annual revenue was approximately $5.54 billion.{{cite web|last=Berlin|first=Andrew|title=Trinseo's 4Q12 EBITDA tracks low end of management guidance, improves year-over-year|url=http://us.debtwire.com/intelligence/intelligenceDetail.asp?guid=671F56D050E1466F80633B723E1CB951&contextid=379646394&verb=8&mode=4&companysysid=27|work=Debt Wire|publisher=Debtwire.com|access-date=14 April 2013}}

{{As of|2017}} the company reported a net income of $310 million and an adjusted EBITDA guidance of $580 million.{{cite news|last1=Boswell|first1=Clay|title=Trinseo beats estimates as income surges 84% YOY|url=https://www.chemweek.com/CW/Document/Unauthorized/85191/Trinseo-beats-estimates-as-income-surges-84-YOY|access-date=28 September 2017|work=IHS Chemical Week|date=February 22, 2017}}

Trinseo owns a 50% stake in North American polystyrene producer American Styrenics LLC, a joint venture based in the Woodlands, Texas.{{cite news|last=Esposito|first=Frank|title=Styron ties material innovations to markets|newspaper=Plastics News|date=December 6, 2010}}

Trinseo previously held a 50% stake in Sumika Styron Polycarbonate Limited, but sold this to Sumitomo Chemical in 2017.{{cite news|title=Trinseo exits polycarbonate JV with Sumitomo Chemical|url=http://www.plasticsnewseurope.com/article/20170207/PNE/170209937/trinseo-exits-polycarbonate-jv-with-sumitomo-chemical|access-date=27 September 2017|work=Plastics News Europe|date=7 February 2017}}

In 2016 Trinseo signed an agreement to sell its Brazil-based businesses to Qoppar Participacoes Ltda.{{cite news|title=Trinseo to sell latex, polypropylene operations in Brazil|url=http://www.rubbernews.com/article/20160805/NEWS/160809974/trinseo-to-sell-latex-polypropylene-operations-in-brazil|access-date=27 September 2017|work=Rubber & Plastics News Report|date=August 5, 2016}}

As of 2017, Trinseo announced its first acquisition, the Italian plastics firm Applicazioni Plastiche Industriali.{{cite news|last1=DiStefano|first1=Joseph N.|title=Lego supplier Trinseo acquires Italian plastics firm|url=http://www.philly.com/philly/blogs/inq-phillydeals/plastics-maker-trinseo-buys-italian-firm-20170615.html|access-date=27 September 2017|work=Philadelphia Inquirer|date=2017-06-15}} API's softer plastics will complement Trinseo's harder plastics.{{cite news|last1=DiStefano|first1=Joseph A.|title=Purchasing Power: Berwyn-based Trinseo makes its first acquisition since 2010|work=Philly.com|pages=A11, A13|date=June 16, 2017}} On September 27, 2017, Trinseo opened a new research and development center in Terneuzen, Netherlands.{{cite news|title=Trinseo's New Development Brings Plastics Innovation to Terneuzen|url=http://www.businesswire.com/news/home/20170927005164/en/Trinseos-New-Development-Brings-Plastics-Innovation-Terneuzen|access-date=28 September 2017|work=Business Wire|date=September 27, 2017}}

Trinseo's IPO debuted on June 12, 2014, listed as {{New York Stock Exchange|TSE}}.{{cite news|last1=Williams|first1=Dede|title=Styron / Trinseo Finally Launches IPO|url=http://www.chemanager-online.com/en/news-opinions/headlines/styron-trinseo-finally-launches-ipo|access-date=27 September 2017|work=CHEManager|date=June 10, 2014}}{{cite news|last1=St. Germain|first1=Donna|title=Trinseo Celebrates Initial Public Offering on the New York Stock Exchange|url=http://www.businesswire.com/news/home/20140616006555/en/Trinseo-Celebrates-Initial-Public-Offering-New-York|access-date=27 September 2017|work=Business Wire|date=June 16, 2014}} All shares were sold in the offering,{{cite web|title=Shares of plastic maker Trinseo rise 9 pct in market debut|url=https://www.reuters.com/article/trinseo-sa-ipo-idUSL4N0OT3PQ20140612|publisher=Reuters|access-date=28 August 2014}} and raised over $190 million.{{cite news|first=Vincent|last= Valk|title=Trinseo completes $190-million NYSE initial public offering|work=Chemical Week|url=http://www.chemweek.com/sections/business_finance/usa_americas/Trinseo-completes-$190-million-NYSE-initial-public%20offering_61794.html|date=June 16, 2014}}

• The company produces polystyrene co-polymers (ABS, SAN) and expanded polystyrene primarily used in packaging, food applications and home appliances.{{cite web|last=Gerrard|first=Peter|title=Styron calls for new approach in European PS pricing|url=http://www.icis.com/Articles/2012/10/18/9605336/styron-calls-for-new-approach-in-european-ps-pricing.html|work=ICIS.com|access-date=17 April 2013}}{{cite web|title=New ABS resin from Styron|url=http://www.mrcplast.com/news-news_open-29001.html|work=MRCplast.com|access-date=17 April 2013}}{{cite web|last=Staff|title=New EPS grades from Styron|url=http://www.europeanplasticsnews.com/subscriber/headlines2.html?cat=1&id=1312878626|date= 9 August 2011|work= Plastics News Europe /|access-date=17 April 2013}}
• The company produces styrene butadiene latex, which is applied as a coating on coated paper.{{cite news|last1=Kemppainen|first1=Jouni|first2= Pauliina|last2= Purola |first3= Marjaana |last3=Lehtinen|title=The Chinese premiere of curtain coated linerboard|url=http://www.valmet.com/globalassets/media/articles/en/2012/20121203---the-chinese-premiereof-curtain-coated-linerboard/results312jiancurtaincoating.pdf|newspaper=Results Pulp & Paper|date=March 12, 2012}}
• The company produces functionalized solution styrene butadiene rubber (SSBR) for use in high performance tires, and opened a new 50,000 metric ton production unit for production of SSBR in Schkopau, Germany in late 2012.{{cite news|title=Styron Opens New SSBR Production Line in Schkopau, Germany|url=http://www.chemanager-online.com/en/news-opinions/headlines/styron-opens-new-ssbr-production-line-schkopau-germany|access-date=27 September 2017|work=CHEManager|date=October 16, 2012}} They also produces polycarbonate compounds and blends primarily used in automotive applications, medical devices and LED lighting.{{cite web|last=Lindway|first=Martin|title=Cleanroom resin production supports medical device manufacturers|url=http://medicaldesign.com/archive/cleanroom-resin-production-supports-medical-device-manufacturers|work=Medical Design|publisher=Penton Media, Inc.|access-date=14 April 2013}}
• The company's LGF polypropylene resin was instrumental in Ford Motor Company's development of an innovative headlamp bracket, which was awarded a 2012 Society of Plastics Engineers Innovation for Safety Award. Their material solutions have also contributed to the design of the first, "thermoplastic lift-gate solution" in the new Renault Clio.{{cite web|last=Volkova|first=Margaret|title=Styron LGF polypropylene resin helped Ford to get an award|url=http://www.mrcplast.com/news-news_open-219682.html|publisher=Market Report Company|access-date=19 April 2013}}

• Materials science
• Rubber technology
• Styrene
• Polystyrene
• Plastic
• Latex

{{Reflist}}

{{Authority control}}

Category:Rubber companies

Category:Plastics

Category:Companies listed on the New York Stock Exchange

Category:Tax inversions

Category:Bain Capital companies

Category:Dow Chemical Company