On September 20, more than 100 public and private partners covering the whole plastics value chain signed the declaration of the Circular Plastics Alliance (CPA), which promotes voluntary actions for a well-functioning European Union (EU) market in recycled plastics.
The declaration lays out how the alliance will reach the target of 10 million tons of recycled plastic used to make new products every year in Europe, by 2025. This target was set by the European Commission in its 2018 Plastics Strategy, as part of its efforts to boost plastics recycling in Europe.
Trinseo supports plastics recycling in the EU and proudly celebrates the CPA declaration which was signed in Brussels by two of the Company’s leaders who were representing valued industry organizations in leadership roles – Nicolas Joly, President of Styrenics Circular Solutions, and Tim Stedman, Vice President of PlasticsEurope.
“The signature of the declaration of the Circular Plastics Alliance is another important milestone towards recycling the valuable Polystyrene waste,” said Nicolas Joly, Global Business Director, Polystyrene at Trinseo. “The CPA brings together the various players throughout the value chain, including regulation authorities, which will help us accelerating the transition towards the infinite circularity of Polystyrene.”
Trinseo was one of four founding members of Styrenics Circular Solutions (SCS), a joint industry initiative to drive the shift to a more circular economy for styrenics, which was incorporated as an independent organization and collaboration platform in December 2018. In April, Nicolas Joly, Global Business Director, Polystyrene at Trinseo, was elected President of the organization.
“The plastics industry and its immediate value chain have made a commitment to drive change,” said Tim Stedman, Senior Vice President and Business President, Plastics and Feedstocks and Global Supply Chain at Trinseo. “These measurable goals outlined in the declaration are not just far off promises but rather real measurable goals that will manifest in important change.”The CPA declaration will remain open for signature on the EU Commission's website for more signatories to join over time, in particular public authorities from all across Europe.
Styrenics Circular Solutions is a joint industry initiative to increase the circularity of styrenics. The initiative engages the entire value chain in the development and industrialization of new recycling technologies and solutions. It aims to strengthen the sustainability of styrenic products while improving resource efficiency within the Circular Economy. For more information visit www.styrenics-circular-solutions.com.
PlasticsEurope is a leading pan-European association and represents plastics manufacturers active in the European plastics industry. The plastics industry in Europe is a vibrant sector that helps improve the quality of life by enabling innovation, facilitating resource efficiency and enhancing climate protection.
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 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.