Trinseo (NYSE: TSE), the global materials company and manufacturer of plastics, latex binders, and synthetic rubber, announced today its collaboration with Greiner Packaging, a leading European manufacturer of plastic packaging in the food and nonfood sectors, to advance the implementation of recycled polystyrene (PS) used in packaging applications. The joint project aims to demonstrate the circularity of PS by utilizing recycled material to develop and test recycled PS packaging.
As a leader in the advancement of circular solutions for PS, Trinseo is highly engaged in several partnerships and initiatives to close the loop on PS recycling, namely:
“We are pleased to announce this collaboration with Greiner Packaging and are encouraged by the great momentum it will bring to close the loop with recycled content,” said Nicolas Joly, Global Business Director, Polystyrene and Feedstocks at Trinseo. “By increasing the prevalence of polystyrene recycling it further emphasizes our commitment to be a key contributor to achieving full circularity for PS.”
“At Greiner Packaging, our vision is to design and form sustainable plastic solutions for a more livable future worldwide,” said Gernot Desch, Category Manager Plastics, Greiner Packaging. “We are aware of our responsibility and therefore focus on sustainable actions and solutions for a circular economy at all product groups. With our strategy, we want to show that sustainability and plastics do not conflict with one another.”
Full PS circularity is a game changer, offering a unique potential for closed loop recycling – with two fewer steps than recycling of other polymers. Depolymerization is an innovative technology for PS recycling, which has already proven to bring PS waste back into a monomer – unlocking the intrinsic circularity of PS even further. In turn, PS circularity is particularly advantaged as it diverts waste material away from landfills, leading to a reduction in greenhouse gases and harmful emissions.
In North America, Trinseo’s joint venture, AmSty, recently formed a joint venture with Agilyx, named Regenyx LLC, dedicated to fully recycling post-consumer PS materials back into new PS products. Through Regenyx, AmSty is providing customers with PS recycled from a monomer state, from post-consumer waste, known as PolyUsable™.
Greiner Packaging is a leading European manufacturer of plastic packaging in the food and nonfood sectors. The company has enjoyed a reputation for outstanding solutions expertise in the fields of development, design, production, and decoration for nearly 60 years. Greiner Packaging responds to the challenges of the market with two business units: Packaging and Assistec. While the Packaging unit stands for innovative packaging solutions, the Assistec unit focuses on producing custom-made technical parts. Greiner Packaging employs a workforce of around 4,800 at more than 30 locations in 19 countries around the world. In 2018, the company generated annual sales revenues of EUR 673 million (including joint ventures), which represents more than one third of Greiner’s total sales.
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, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. Trinseo had approximately $4.6 billion in net sales in 2018, with 16 manufacturing sites around the world, and approximately 2,500 employees. For more information visit www.trinseo.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 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 ability to successfully execute our transformation strategy and business strategy; our ability to integrate acquired businesses; global supply chain volatility, increased costs or disruption in the supply of raw materials or increased costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; 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.