15 June 2017
ABOUT API Applicazioni Plastiche Industriali S.p.A.
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DETAILS
Trinseo (NYSE: TSE), and
API Applicazioni Plastiche Industriali S.p.A.
have signed a definitive agreement
for Trinseo to acquire API.
The transaction is expected to close in the third quarter of 2017,
following customary closing conditions.
Trinseo is funding the purchase of API’s shares
through its existing cash on hand.
The transaction includes API’s manufacturing and research facility
at Mussolente, Italy, and all of API’s business, employees and assets.
The API management team and employees
will join Trinseo’s Performance Plastics business.
The Brunetti family will support and facilitate
a smooth transition of API to Trinseo.
Chris Pappas,
President and CEO of Trinseo
“Trinseo’s first acquisition is directly aligned with
the company strategy to grow
the Performance Materials businesses
and will benefit customers across a
breadth of market applications and geographies,”
“API is a sophisticated polymer solutions provider
with a strong position in soft-touch polymers
– which complement Trinseo’s strengths in rigid polymers.
By leveraging API’s advanced manufacturing operations,
excellent management, deep technical expertise,
and strong customer relationships,
we will further strengthen our Performance Plastics businesses
to create growth synergies with customers in all global regions.”
Editorial Information
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Donna St.GermainPress Contact+1 610 240 3307
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