Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe, today, announced a price increase for plastics, latex binders and synthetic rubber products manufactured in the EMEA. Effective October 27, 2021, or as existing contract terms allow, a surcharge of up to EUR500/MT will apply to the contract and spot prices for all Trinseo products produced in its European facilities.
Since early 2020, the petrochemical industry has been greatly impacted by both severe disruptions in raw material availability and significant cost increases. Trinseo has worked hard to mitigate the impact of these issues while maintaining our standards of quality service. In the past few weeks, an energy crisis in Europe has led to an unprecedented rise in utility costs and this impacts Trinseo both directly in production and also indirectly through the raw materials and services we purchase for the manufacturing process. The issue has been escalating rapidly and this jeopardizes Trinseo’s ability to continue with normal production without action.
Trinseo will continue to monitor the situation and adjust accordingly.
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics and latex binders with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board and building and construction. Trinseo had approximately $3.0 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,800 employees. For more information, please visit: www.trinseo.com.
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