Berwyn, Pennsylvania - Trinseo has completed the acquisition of Italian materials supplier Applicazioni Plastiche Industriali SpA (API), it was announced 10 July.
The transaction, which was announced mid-June, 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 are now part of Trinseo’s Performance Plastics business.
“The completion of this transaction will bring great opportunities to our customers and employees,” said Chris Pappas, President and CEO of Trinseo in a 10 July statement.
“We will be able to grow the combined business by leveraging API’s soft-touch polymers and Trinseo’s rigid polymers to our collective customer base in all geographies.”
The purchase from the Brunetti family is part of a strategy to grow Trinseo’s ‘performance materials’ businesses in all global regions, added Pappas.
API’s products are distinct from Trinseo’s and are complementary, according Hayati Yarkadas, senior vice president and business president, performance materials at the US group.
“Trinseo’s rigid plastics have a very strong position in automotive, medical and consumer markets. API’s soft-touch TPE products are often used together with rigid plastics in similar applications, so the combination of Trinseo and API will benefit customers,” Yarkadas explained on 15 June.
API’s soft-touch polymers include TPEs, thermoplastic polyurethanes, EVA-based compounds, and two-component PUs. Its main markets are automotive, footwear, appliances, furniture, sports goods, consumer goods, packaging, construction, and medical.
Based in Bassano del Grappa, near Venice, Italy, API has been working in the research, development and production of customised thermoplastic compound materials and elastomers for since 1956.
The company claims to offer “a complete range of TPU, TPE, PU and the latest biodegradable elastomers” to its clients in various industries.