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Trinseo to Acquire Italian Plastics Firm Applicazioni Plastiche Industriali
Jun 16, 2017 (M&A Navigator via COMTEX) -- (C)2017 M2 COMMUNICATIONS http://www.m2.com

16 June 2017 - Pennsylvania, US-based plastics, rigid polymer manufacturer Trinseo (NYSE: TSE) has agreed to acquire Italy based polymer solutions provider API Applicazioni Plastiche Industriali S.p.A. to broaden product portfolio, the company said. The transaction is expected to close in 3Q17, following customary closing conditions. Trinseo plans to fund the purchase of API's shares through its existing cash on hand. Additional terms of the transaction were not disclosed. Trinseo said this is its first acquisition, and is aligned with the company's strategy to grow the performance materials businesses in both hard and soft polymers. With a broader portfolio of both rigid polymers and soft-touch polymers, the combined business will be ready to meet a broader array of application needs. The transaction includes API's manufacturing and research facility at Mussolente, Italy, and all of API's business, employees and assets. The API management team and employees will join Trinseo's performance plastics business. API specialises in the production of thermoplastic elastomeric compounds and bioplastics. Trinseo is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. The company had approximately USD 3.7bn in net sales in 2016, with 15 manufacturing sites around the world, and nearly 2,200 employees. Country: Italy Sector: Chemicals Target: API Applicazioni Plastiche Industriali S.p.A. Buyer: Trinseo Vendor: Deal size in USD: Type: Corporate Acquisition Financing: Status: Agreed Buyer advisor: , , Comment: Terms of the deal were not disclosed


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