Trinseo (NYSE: TSE), the global materials company and manufacturer of plastics, latex binders and synthetic rubber, announced today that Trinseo and COEXPAN, a global leader in sheet extrusion for FFS dairy markets in Europe, CIS and America, will collaborate to validate various polystyrene recycling technologies to develop polystyrene containing recycled content that is fit for use in the global dairy industry’s form fill seal (“FFS“) market. With materials and input supplied by Trinseo, Coexpan will be testing recycled polystyrene across various technologies at its INNOTECH (COEXPAN&EMSUR Innovation Technology Center for Rigid and Flexible Packaging).
The dairy FFS packaging market, which has historically preferred the use of polystyrene due to its technical superiority over alternative polymers, has recently seen greater interest in alternative materials owing to misperceptions regarding the circularity and recyclability of polystyrene.
Trinseo and Coexpan, jointly state: “r-PS is a game changer for the FFS market. Polystyrene offers a unique potential for not only closed loop recycling, but also a lower carbon footprint and extended lifecycle due to its simplicity and ease to fully recycle giving polystyrene a major competitive advantage vs all alternatives. Industrial volumes will come online by the third quarter 2022”.
Dinis Mota, CEO of COEXPAN, commented: “We are very pleased to have established this collaboration with Trinseo, which will allow us to demonstrate the viability of mechanical and chemical recycling processes for Polystyrene, a polymer with excellent properties in terms of efficiency and circularity in the food packaging market category. As a global leader in FFS and thermoforming packaging solutions, working with Trinseo in this regard reinforces our joint sustainability actions.
“Coexpan is very excited about this collaboration. Having seen the crucial role plastic packaging has played this year in terms of food safety and hygiene, we view recycling and circularity as even more crucial. Our research center, INNOTECH, is constantly innovating with recycling and circularity in mind. We do not launch a product without first addressing circularity. This partnership provides a unique platform that reaffirms our goal of promoting and achieving a circular economy model”.
Nicolas Joly, Vice President Plastics and Feedstocks at Trinseo, added: “We are very excited about the collaboration of Coexpan and Trinseo. This marks another major milestone on the way to seeing recycled Polystyrene products on shelves. The unique recycling opportunity that Polystyrene offers is now much more broadly recognized, and it is great to be able to collaborate with leaders along the value chain to further expand this recognition. Full circularity for Polystyrene is imminent, and Trinseo is passionately committed to this, but such partnerships are key to accelerating the transition to circular economy and contributing to the European Commission's recycling goal.”
Trinseo’s full sustainability pledge in PS Recycling covers mechanical, dissolution and chemical technologies with a clear commitment to close the loop on PS recycling, namely:
First mover in extrusion with more than 45 years of experience in the industry, COEXPAN is the Grupo Lantero division that specializes in the manufacture of rigid plastic sheets and thermoformed products, offering global solutions for the packaging industry.
COEXPAN has 13 production plants in 8 countries in Europe and America (Spain, France, Germany, Italy, Russia, Chile, Brazil and Mexico), specialized in rigid sheet solutions and thermoformed packaging in the main polymers (PS, PP, PET, PLA).
For more information, see https://www.coexpan.com/
Located in Alcalá de Henares, (Madrid region)), INNOTECH is the Center for Technological Innovation of COEXPAN and EMSUR.
Inaugurated on July 4, 2019, INNOTECH is conceived to serve as a collaboration space where clients, suppliers, associations, public bodies and Universities, among others, cooperate on projects aimed at developing more efficient and sustainable packaging that contributes effectively to improving the environment.
With more than 1,000 square meters and a large team of experts (R&D, Engineering, Marketing and Sales), the center has large multidisciplinary workspaces, as well as state-of-the-art technology.
Within the portfolio of solutions and services that INNOTECH offers, the following stand out: packaging consulting and advice, industrial trials and testing of materials, exclusive training and educational services, as well as laboratory analysis.
For more information, see www.coexpan-emsur.com/innotech
Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. We are focused on delivering innovative and sustainable solutions to help our customers create products that touch lives every day — products that are intrinsic to how we live our lives — across a wide range of end-markets, including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. Trinseo had approximately $3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees. For more information visit www.trinseo.com.
This press release may contain “forward-looking statements” including, without limitation, statements concerning plans, objectives, goals, projections, expectations, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like “expect,” “estimate,” “will,” “may,” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on the Company’s current expectations and assumptions regarding the impact from the COVID-19 pandemic, the Company’s business, the economy and other future conditions. Specific factors that could cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, risks related to the ongoing impact of the COVID-19 pandemic and those discussed in the Company’s Annual Report for the year ended December 31, 2019 filed with the Securities and Exchange Commission (“SEC”), in subsequent Quarterly Reports on Form 10-Q and in other filings and furnishings made by the Company with the SEC from time to time. Other unknown or unpredictable factors could also have material adverse effects on the Company’s performance. As a result of these or other factors, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and are not a guarantee of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
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