Trinseo to Acquire Italy’s API
US styrenics producer Trinseo has signed a definitive agreement to acquire Italy’s family-owned API Applicazioni Plastiche Industriali in an all-cash deal. This will be the Pennsylvania-based company’s first acquisition since having been spun off from Dow Chemical as Styron in 2010.
Chris Pappas, president and CEO of the styrenics producer, said API, as a sophisticated polymer solutions provider with a strong position in soft-touch polymers, complements Trinseo’s strengths in rigid polymers.
By leveraging the company’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,” Pappas said, adding that the acquisition is “directly aligned” with Trinseo’s strategy to grow the Performance Materials businesses.
The deal includes API’s manufacturing and research facility at Mussolente, Italy, and all of its business, employees and assets. The API management team and employees will join Trinseo’s Performance Plastics business. Its current owners, the Brunetti family, will support and facilitate a smooth transition, the US company said.
“API’s products are distinct from Trinseo’s and are complementary,” said Hayati Yarkadas, senior vice president and business president, Performance Materials. The Italian company’s portfolio includes thermoplastic elastomers (TPEs) and thermoplastic urethanes (TPUs), EVA-based compounds, and cast elastomer PU, as well as a portfolio of bioplastics.
Trinseo’s product slate includes ABS, polycarbonate, polypropylene, polystyrene, SAN, polymer compounds, synthetic rubber and latex binders.