Trinseo looks to sell styrenics business and then repay debt

Chicago, March 13 – Trinseo plc commenced a sale process for interest in its half ownership in Americas Styrenics LLC, a joint venture with Chevron Phillips Chemical Co LP.

The company said in a press release that any proceeds from the sale are expected to be used to pay down a portion of the recently issued $1.077 billion of term loans maturing in 2028.

Frank Bozich, president and chief executive officer of Trinseo, said “The sale of our ownership in AmSty is a logical step in our transformation as a specialty materials and sustainable solutions provider. By executing the contractual ownership exit provision, we have a clear pathway to divest our interest in the joint venture. We expect the exit process to lead to a definitive arrangement no later than early 2025.”

Trinseo is a Wayne, Pa.-based materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber.

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