{"id":690515,"date":"2022-09-29T16:18:05","date_gmt":"2022-09-29T20:18:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\/"},"modified":"2022-09-29T16:18:05","modified_gmt":"2022-09-29T20:18:05","slug":"trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\/","title":{"rendered":"Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant"},"content":{"rendered":"

<\/p>\n

Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant<\/b><\/p>\n

WAYNE, Pa.–(BUSINESS WIRE<\/a>)–
\nTrinseo (NYSE: TSE), a specialty material solutions provider, today announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany. The facility, which has a nameplate annual capacity of 300 kilotons, generated negative profitability of approximately $30 million over the last four quarters ending Q2 2022.\n<\/p>\n

\nFrank Bozich, President and Chief Executive Officer of Trinseo, commented, \u201cGiven the current economic outlook of higher inflation, lower customer demand and elevated energy costs, we are evaluating asset optimization across our portfolio.\u201d\n<\/p>\n

\nBozich continued, \u201cThe cost position of the Boehlen facility is challenged due to the current energy cost environment in Europe as well as the facility\u2019s smaller scale, and it\u2019s difficult to envision significant earnings improvement at the site in the near to medium term. Therefore, we have decided to evaluate the potential closure of this plant. In addition to improved profitability for Trinseo, we believe a closure will aid in achieving our 2030 sustainability goals, as Boehlen is one of our most carbon intensive plants.\u201d\n<\/p>\n

About Trinseo<\/b><\/p>\n

\nTrinseo (NYSE: TSE) a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart, and sustainability-focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers. From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers\u2019 unique challenges in a wide range of industries, including consumer goods, mobility, building and construction, and medical. Trinseo\u2019s approximately 3,400 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company\u2019s locations in North America, Europe, and Asia Pacific. Trinseo reported net sales of approximately $4.8 billion in 2021. Discover more by visiting www.trinseo.com<\/a> and connecting with Trinseo on LinkedIn<\/a>, Twitter<\/a>, Facebook<\/a> and WeChat<\/a>.\n<\/p>\n

Cautionary Note on Forward-Looking Statements<\/i><\/b><\/p>\n

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\u2019s evaluation of information currently available and are based on our current expectations and assumptions regarding 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 future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to successfully execute our transformation strategy and business strategy; our ability to integrate acquired businesses; global supply chain volatility or increased costs or disruption in the supply of raw materials; increased energy costs or costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; and those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A \u2014”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.<\/i><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20220929005787\/en\/<\/a><\/span><\/p>\n

\nTrinseo
\n
Andy Myers
\n
Tel: +1 610-240-3221
\n
Email: aemyers@trinseo.com<\/a><\/p>\n

KEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Automotive Manufacturing Manufacturing Textiles Packaging Chemicals\/Plastics<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant WAYNE, Pa.–(BUSINESS WIRE)– Trinseo (NYSE: TSE), a specialty material solutions provider, today announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany. The facility, which has a nameplate annual capacity of 300 kilotons, generated negative profitability of approximately $30 million over the last four quarters ending Q2 2022. Frank Bozich, President and Chief Executive Officer of Trinseo, commented, \u201cGiven the current economic outlook of higher inflation, lower customer demand and elevated energy costs, we are evaluating asset optimization across our portfolio.\u201d Bozich continued, \u201cThe cost position of the Boehlen facility is … <\/p>\n

Continue reading “Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-690515","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTrinseo Announces Potential Closure of Boehlen, Germany Styrene Plant - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant WAYNE, Pa.–(BUSINESS WIRE)– Trinseo (NYSE: TSE), a specialty material solutions provider, today announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany. The facility, which has a nameplate annual capacity of 300 kilotons, generated negative profitability of approximately $30 million over the last four quarters ending Q2 2022. Frank Bozich, President and Chief Executive Officer of Trinseo, commented, \u201cGiven the current economic outlook of higher inflation, lower customer demand and elevated energy costs, we are evaluating asset optimization across our portfolio.\u201d Bozich continued, \u201cThe cost position of the Boehlen facility is … Continue reading "Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T20:18:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20220929005787r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant\",\"datePublished\":\"2022-09-29T20:18:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/\"},\"wordCount\":702,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20220929005787r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trinseo-announces-potential-closure-of-boehlen-germany-styrene-plant\\\/\",\"name\":\"Trinseo Announces Potential Closure of Boehlen, Germany Styrene Plant - 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