Trinseo Forms Commercial Partnership with Tyre Recycling Solutions
Partnership will accelerate the development of sustainable synthetic rubber tire formulations, through increased use of recycled tires
BERWYN, PA.--(Business Wire / Korea Newswire)--Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, has reached definitive agreements with Tyre Recycling Solutions (TRS) on a commercial collaboration and an equity investment in TRS. The transaction is expected to close later this quarter, subject to ordinary closing conditions.
The new collaboration agreement will see the two companies collaborate on research and development, pooling their combined technology expertise to help global tire manufacturers develop more sustainable tire formulations. Trinseo and TRS share the long-term goal of developing new value-creating systems for the manufacture of tires that reduce environmental footprint and create a sustainable outlet for end of life tires.
“This collaboration is extremely important for developing real circular solutions for the tire and technical rubber goods industries. As a leading supplier of synthetic rubber to the tire industry, we are committed to helping our customers achieve their sustainability goals and believe that the most successful way to do this is through collaboration across the value chain. The partnership with TRS will provide us with high quality recycled tire feedstock to serve customers globally,” said Francesca Reverberi, Vice President, Engineered Materials and Synthetic Rubber, Trinseo.
Staffan Ahlgren, Chief Executive Officer, TRS, commented: “TRS has already been working closely with Trinseo for several years and we are excited to enter the next phase of our collaboration. TRS has developed proprietary technologies to process end-of-life tires and deliver output products with higher circular economical value. The partnership with Trinseo is confirmation of the great strides we’ve made since the company was founded seven years ago.”
The investment is aligned and consistent with Trinseo’s recently announced 2030 Sustainability Goals which outline the company’s focus on tackling climate change, embedding sustainability in its product portfolio, promoting supplier and operational stewardship, and embodying responsibility as an employer. Launched to coincide with the company’s ten-year anniversary, these long-term goals are now at the heart of the company at every level.
Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. Trinseo had approximately $3.8 billion in net sales with 2,700 employees globally in 2019. For more information, please visit: www.trinseo.com.
Tyre Recycling Solutions SA (TRS) is a limited company established in 2013 in Switzerland. TRS builds global solutions for the collection, processing and recycling of scrap tires through the development and implementation of innovative technologies and business processes. The TRS technology toolbox utilizes a unique water-jet milling process which can produce high performance powder for use as raw materials in a variety of industrial rubber products and high value applications and compounds. TRS derives its revenue from equipment sales, licenses and sale of high-performance rubber powder under its globally trademarked brand name TyreXol™.
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This is a news release distributed by Korea Newswire on behalf of this company.