Berwyn, Pennsylvania – US speciality chemicals company Trinseo SA has completed the acquisition of Dow Chemical’s latex production facilities and related infrastructure at Rheinmunster, Germany.
The €40m transaction, originally announced in May this year, includes full ownership and operational control of both latex production facilities at Rheinmunster, as well as site infrastructure and services contracts, and approximately 108 employees who have transferred from Dow to Trinseo.
“The completion of this acquisition is directly aligned with Trinseo’s strategy to grow its latex binders business in applications serving the coatings, adhesives and sealants markets, as well as speciality paper,” said Frank Bozich, president and CEO of Trinseo.
The Rheinmunster site, said Bozich, is “well positioned” for future expansion, and is ideally located to serve many of our European customers.
Trinseo aims to grow its latex binders businesses, particularly in applications serving the adhesives and construction industry.
“With these acquired assets, we will further enhance our product offerings to provide advanced solutions and chemistries that are required by our customers in attractive growth segments,” the company CEO added.
The acquisition enhances Trinseo’s production network across Europe – including an existing Trinseo latex production plant in Rheinmunster, which also houses the company’s R&D centre for latex binders, as well as operations in Hamina, Finland; Norrkoping, Sweden; and Terneuzen, The Netherlands.
Trinseo already operates a latex production plant Rheinmunster, in addition to sites in Hamina, Finland; Norrkoping, Sweden; and Terneuzen, The Netherlands.