Germany: Adhesives and Construction Applications Trinseo Acquires Dow's Latex Production Facilities in Rheinmünster
Trinseo has signed a definitive agreement with The Dow Chemical Company to acquire latex production facilities and related infrastructure at Rheinmünster, Germany. Consideration for the transaction is approximately $ 44.9 million in the form of assumed pension liabilities for transferred employees.
Berwyn/USA — Trinseo plans to grow its Latex Binder businesses, particularly in applications serving the Adhesives and Construction industry, as well as Specialty Paper. The acquisition of the latex production facilities in Rheinmünster is aligned with this strategy, said Frank Bozich, President and CEO. Hayati Yarkadas, Senior Vice President and Business President, Performance Materials added that the Rheinmünster site is well situated for future expansion, as it is already the home to the Global Research and Development center for Latex Binders, and is geographically central to serve many European customers.
The transaction includes full ownership and operational control of both latex production facilities at Rheinmünster, as well as site infrastructure and services contracts, and approximately 114 employees who are expected to transfer from Dow to Trinseo. The acquisition adds to the company’s grid of production facilities across Europe — including an existing latex production plant in Rheinmünster, Germany, as well as operations in Hamina, Finland; Norrkoping, Sweden; and Terneuzen, The Netherlands. The transaction is expected to close in the second half of 2019, following European Union regulatory approval and customary closing conditions.