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August 05, 2016 02:00 AM

Trinseo to sell latex, polypropylene operations in Brazil

Rubber & Plastics News Report
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    BERWYN, Pa.—Trinseo S.A. has signed a definitive agreement to sell its businesses in Brazil to Qoppar Participacoes Ltda., a holding company that manages industrial and chemical assets in the country, for an undisclosed amount.

    The sale includes Trinseo's latex binders and compounded polypropylene businesses along with a binders manufacturing plant in Guaruja, Brazil, and an automotive parts production facility in Limao, Brazil. Also included are the company's laboratory assets, customer lists and contracts.

    Trinseo said it is expected that all employees at the two plants and the operation's customer service team will transfer to Qoppar.

    The transaction is expected to be completed in the fourth quarter.

    Trinseo is selling the businesses because a spokeswoman said the Brazilian company is better positioned to unlock the full value of the two operations. And, she said, considering factors such as currency challenges and the high complexity of doing business in Brazil, Trinseo lacks a sufficient footprint and critical mass to sustain continued operations in the region.

    Globally, she said, the latex and performance plastics businesses are and will continue to be strategically important to the company and the firm will continue to invest in them to drive growth.

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