BERWYN, PA – (COMMERCIAL THREAD) – Trinseo (NYSE: TSE), a global supplier of materials solutions and manufacturer of plastic and latex binders, today announced that it has entered into a transaction to re-establish its parent company from Luxembourg in Ireland, by merger into a Irish public limited company, Trinseo PLC. The merger was approved by shareholders at the company’s annual general meeting in June of this year.
Following the merger, all of the ordinary shares of Trinseo SA were exchanged for ordinary shares of Trinseo PLC on a one-for-one basis. Trinseo shares will continue to be listed on the New York Stock Exchange (NYSE) under the symbol “TSE”. No further action on the part of the shareholders is necessary.
The merger is expected to bring benefits to Trinseo and its shareholders, including simplifying regulatory requirements, increasing flexibility in capital deployment, such as increased authority to issue new shares or repurchase shares, providing withholding benefits to source to shareholders and providing Trinseo with operational efficiency and reduced operating and administration costs.
Trinseo will continue to conduct the same business operations as before the merger. In addition, Trinseo remains subject to the requirements of the United States Securities and Exchange Commission and all applicable corporate governance rules of the NYSE.
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastic and latex binders focused on delivering innovative, sustainable and value-creating products that are intrinsic to our daily lives. Trinseo is committed to making a positive impact on society by partnering with like-minded stakeholders and supporting our customers’ sustainability goals in a wide range of end markets including automotive, consumer electronics, household appliances, medical devices, packaging, footwear, carpets, paper and cardboard, and building and construction. Trinseo had net sales of approximately $ 3.0 billion in 2020 and has 26 manufacturing sites worldwide and approximately 3,800 employees. For more information, visit: www.trinseo.com.
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