Trinseo: Commercial partnership with Tyre Recycling Solutions
Trinseo announced that it has reached definitive agreements with Tyre Recycling Solutions (TRS) on a commercial collaboration and an equity investment in TRS. The transaction is expected to close in Q4 2020, subject to ordinary closing conditions.
According to Trinseo, the new collaboration agreement will see the two companies collaborate on research and development, pooling their combined technology expertise to help global tyre manufacturers develop more sustainable tyre formulations. Trinseo and TRS share the long-term goal of developing new value-creating systems for the manufacture of tyres that reduce environmental footprint and create a sustainable outlet for end of life tyres.
“This collaboration is extremely important for developing real circular solutions for the tyre and technical rubber goods industries. As a leading supplier of synthetic rubber to the tyre industry, we are committed to helping our customers achieve their sustainability goals and believe that the most successful way to do this is through collaboration across the value chain. The partnership with TRS will provide us with high quality recycled tyre feedstock to serve customers globally,” said Francesca Reverberi, Vice President, Engineered Materials and Synthetic Rubber, Trinseo.
Staffan Ahlgren, Chief Executive Officer, TRS, said: “TRS has already been working closely with Trinseo for several years and we are excited to enter the next phase of our collaboration. TRS has developed proprietary technologies to process end-of-life tyres and deliver output products with higher circular economical value. The partnership with Trinseo is confirmation of the great strides we’ve made since the company was founded seven years ago.”
Trinseo said that the investment is aligned and consistent with its recently announced 2030 Sustainability Goals which outline the company’s focus on tackling climate change, embedding sustainability in its product portfolio, promoting supplier and operational stewardship, and embodying responsibility as an employer. Launched to coincide with the company’s ten-year anniversary, these long-term goals are now at the heart of the company at every level, said Trinseo.
Trinseo is a manufacturer of plastics, latex binders, and synthetic rubber. The company had approximately USD 3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees.