API, an Italian company specialized in the production of thermoplastic elastomeric compounds and bioplastics, which was acquired by global materials company Trinseo in July 2017, and ICM (Industria Chimica Mediterranea), a key player in the footwear and leather goods industry, today announced their joint development in innovative and sustainable technical fabrics.
The joint development facilitates the design, manufacture and marketing of high-performance and environmentally sustainable textile solutions for the fashion and footwear industries. The development’s textile products will be produced in a solvent-free and plasticizer-free manufacturing process.
“Joining forces enables us to accelerate technical innovation time to market and to reduce our product’s environmental footprint,” said API’s Business Unit Manager Giancarlo Busa. “Our partnership is the outcome both of an important research and development program and a substantial technological investment.”
“We have had great success in building this partnership,” says ICM’s General Manager Roberto Palmieri. “It enables us to pair decades of technical knowledge in the plastics, leather goods & footwear industry.”
ICM and API will provide a first glimpse of their new textile solutions at the 2018 Pitti Immagine Uomo international fashion fair from June 12-15 in Florence, Italy. VIP buyers at the trade fair, as well as a selection of VIP press members, will receive an exclusive shopping bag made of the partnership’s new fabrics.
Designer Sergio Colantuoni together with Pitti Immagine conceptualized the bag’s exclusive pattern and texture, supported in the final product by PROTER, a company specializing in the research and development of digital printing. The bag’s design was inspired by this year’s event theme – P.O.P. PITTI OPTICAL POWER, a visual and virtual celebration, presenting a pop vision and full color graphic world.
API is an Italian company specialized in the production of thermoplastic elastomeric compounds and bioplastics. Founded in 1956, API has developed a deep and proven experience based on continuous research into innovative, customized compounds for a wide range of applications. API was acquired by global materials company Trinseo in July 2017. For more information visit www.APIplastic.com and http://www.trinseo.com/API-Plastic.
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. We are focused on delivering innovative and sustainable solutions to help our customers create products that touch lives every day — products that are intrinsic to how we live our lives — across a wide range of end-markets, including automotive, appliances, consumer electronics, medical devices, electrical, building and construction, textile, paper and board, footwear and tires. Trinseo had approximately $4.4 billion in net sales in 2017, with 16 manufacturing sites around the world, and approximately 2,200 employees. For more information visit www.trinseo.com
Industria Chimica Mediterranea was founded in 1952 and operates in the footwear and leather goods markets. It produces solvent borne and water borne adhesives, toe puffs, counters and interlinings for leather goods. Since 2015 the company has focused on developing films and TPU plates. For more information, visit www.icmediterranea.com.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding the timing of the proposed acquisition of the Arkema MMA and PMMA business (the "Acquisition"); estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities and cost synergies relating to the Acquisition, our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to, our failure to complete the Acquisition or meet the conditions to closing, including antitrust, works council and other regulatory approvals; the failure to obtain the financing necessary to fund the Acquisition and the impact of the substantial indebtedness to be incurred; costs related to the Acquisition; following the Acquisition, our ability to successfully integrate the acquired businesses, generate expected cost savings and synergies, maintain relationships with customers, retain key employees and profitably grow the business; and those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.