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Trinseo Forms Commercial Partnership with Tyre Recycling Solutions

Partnership will accelerate the development of sustainable synthetic rubber tire formulations, through increased use of recycled tires

BERWYN, Pa. - Tuesday, October 27, 2020
Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, 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 later this quarter, subject to ordinary closing conditions.

The new collaboration agreement will see the two companies collaborate on research and development, pooling their combined technology expertise to help global tire manufacturers develop more sustainable tire formulations. Trinseo and TRS share the long-term goal of developing new value-creating systems for the manufacture of tires that reduce environmental footprint and create a sustainable outlet for end of life tires. 

“This collaboration is extremely important for developing real circular solutions for the tire and technical rubber goods industries. As a leading supplier of synthetic rubber to the tire 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 tire feedstock to serve customers globally,” said Francesca Reverberi, Vice President, Engineered Materials and Synthetic Rubber, Trinseo.

Staffan Ahlgren, Chief Executive Officer, TRS, commented: “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 tires 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.” 

The investment is aligned and consistent with Trinseo’s 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.

About Trinseo

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 $3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees. For more information visit www.trinseo.com.

About TRS

Tyre Recycling Solutions SA (TRS) is a limited company established in 2013 in Switzerland. TRS builds global solutions for the collection, processing and recycling of scrap tires through the development and implementation of innovative technologies and business processes. The TRS technology toolbox utilizes a unique water-jet milling process which can produce high performance powder for use as raw materials in a variety of industrial rubber products and high value applications and compounds. TRS derives its revenue from equipment sales, licenses and sale of high-performance rubber powder under its globally trademarked brand name TyreXol™.

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.

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