1 Sep 2016
Berwyn, Pennsylvania – Trinseo is to cease manufacturing operations at its latex facility in Livorno, Italy by the yearend, the US company has announced.
On 29 Aug, Trinseo’s board of directors approved the plan to stop making latex at Livorno, due to a decline in the graphical paper market.
The closure, added Trinseo, should “provide improved asset utilisation, as well as cost reductions within the company's European latex business.”
The company expects the move to cost it around $24 million in pre-tax, non-recurring charges, including some $15 million impairment charges to write down the value of assets.
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