Global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber - Trinseo, and API Applicazioni Plastiche Industriali S.p.A. have signed a definitive agreement for Trinseo to acquire API. Soft-touch polymers will broaden product portfolio and drive growth in Performance Plastics. The transaction is expected to close in Q3 of 2017, following customary closing conditions. Trinseo is funding the purchase of API’s shares through its existing cash on hand. The transaction 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 will join Trinseo’s Performance Plastics business. The Brunetti family will support and facilitate a smooth transition of API to Trinseo.
“Trinseo’s first acquisition is directly aligned with the company strategy to grow the Performance Materials businesses and will benefit customers across a breadth of market applications and geographies,” said Chris Pappas, President and CEO of Trinseo. “API is a sophisticated polymer solutions provider with a strong position in soft-touch polymers – which complement Trinseo’s strengths in rigid polymers. By leveraging API’s advanced manufacturing operations, excellent management, deep technical expertise, and strong customer relationships, we will further strengthen our Performance Plastics businesses to create growth synergies with customers in all global regions.”
Customers of API and Trinseo can expect the combined Performance Plastics business to serve their applications needs with a broader product offering of soft-touch and rigid polymers, as well as new technology from API and the addition of strong talent with deep application knowledge.
“API’s products are distinct from Trinseo’s and are complementary,” said Hayati Yarkadas, Senior Vice President and Business President, Performance Materials. “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. The potential for the combined product offering, as well Trinseo’s global presence to bring API products into new geographies, means that this powerhouse portfolio of Performance Plastics will be an engine for growth in Trinseo.”
API Products: soft-touch polymers including TPEs, Thermoplastic Polyurethanes (TPUs), EVA-based Compounds, and Two-Components PU, as well as a portfolio of bioplastics
API Key Market Applications: Automotive, Footwear, Appliances, Furniture, Sporting Goods, Apparel, Consumer Goods, Packaging, Construction, and Medical
Trinseo Products: ABS, Polycarbonate, Polypropylene, Polystyrene, SAN, polymer compounds, Synthetic Rubber (S-SBR, E-SBR, Li-BR, Ni-BR, Nd-BR), Latex Binders
Trinseo Key Market Applications: Automotive, Consumer Electronics, Lighting, Appliances, Packaging, Medical Devices, Tires, Consumer Goods, and Construction