Trinseo sells synthetic rubber business for US$491 million
On May 21, Trinseo announced that it had reached a final agreement with Synthos to sell its synthetic rubber business for US$491 million.
Trinseo's synthetic rubber business in Schkopau, Germany, will be transferred to Synthos SA and its subsidiaries. After deducting transaction-related costs, the net cash income is expected to be approximately US$400 million.
The transaction is expected to be completed in 2022. Approximately 440 employees in the business, most of which are located in Schkobau, Germany, will join Synthos as a result. The transaction also includes the transfer of related manufacturing and R&D facilities in Schkebau, Germany, and related intellectual property rights.
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