Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex and rubber, announced that it will realign its business divisions, creating two new business groups called Performance Materials and Basic Plastics and Feedstocks.
“This new alignment of businesses better reflects the nature of our businesses. By grouping together businesses with similar strategies and aspirations, we can manage and operate them more effectively,” said Chris Pappas, President and CEO of Styron. “With greater focus and leadership alignment in these new division structures, we intend to accelerate the growth of our Performance Materials businesses, and optimize profitability of the Basic Plastics and Feedstocks businesses for cash generation.”
The Performance Materials division will include the following reporting segments: Rubber, Latex and Performance Plastics (consisting of the Automotive and Consumer Essential Markets businesses). The Basic Plastics and Feedstocks division will also represent a separate segment for reporting purposes and will include the following businesses: Styrenic Polymers (Polystyrene, ABS, SAN), Polycarbonate, and Styrene Monomer.
Pappas announced the following changes to the executive team:
Changes to Trinseo’s financial reporting will be effective January 1, 2015. The changes in executive roles are effective immediately except as otherwise noted.
Styron is a leading global materials company and manufacturer of plastics, latex and rubber, dedicated to collaborating with customers to deliver innovative and sustainable solutions. Styron’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Styron had approximately $5.3 billion in revenue in 2013, with 19 manufacturing sites around the world, and approximately 2,100 employees. More information can be found at www.styron.com.
This release may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct.