Trinseo Announces Potential Closure of Stade, Germany Virgin Polycarbonate Manufacturing Facility
Trinseo PLC Ordinary Shares (TSE)
Last trinseo plc ordinary shares earnings: 2/6 04:15 pm
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Source: Business Wire
-Potential closure by the end of 2024-Final decision subject to consultation with Stade Works Council and in accordance with German Law WAYNE, Pa.--(BUSINESS WIRE)--Trinseo (“Trinseo” or “the Company”) (NYSE: TSE), a specialty material solutions provider, today announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland Anlagengesellschaft mbH regarding the potential closure of its virgin polycarbonate (“PC”) production site in Stade, Germany. The Company expects to seek board approval of the closure in 2024 following the Works Council consultation process. If an agreement is reached, Trinseo will no longer produce virgin PC and will obtain PC for its downstream businesses entirely via external purchases. In comparison to 2023 results, the action is expected to increase annual profitability by $15 million to $20 million.“Unfortunately, we continue to see demand soften, and price declines due to the oversupply caused by offshore p
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