To produce recycled food-contact polystyrene
material, anticipated startup in 2024
Trinseo (NYSE: TSE), a specialty material solutions provider,
and GMP Group (GMP), a circular business innovations company in the
Netherlands, announced jointly today their intended concerted
efforts in further unlocking the circularity of polystyrene
(PS).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220630005038/en/
Food-contact PS is an ideal material for
food packaging, and recycled food-contact PS helps contribute to
the circularity of packaging materials, especially when packaging
waste remains a concern in many domains. (Photo: Business Wire)
PS is a common material used in numerous applications, including
packaging and consumer goods. Food-contact PS is an ideal material
for food packaging, and recycled food-contact PS helps contribute
to the circularity of packaging materials, especially when
packaging waste remains a concern in many domains.
Trinseo and GMP’s collaboration aims at providing a framework
for cooperation, on an exclusive basis, the construction and
operation by GMP of an advanced pretreatment or regeneration plant
with a minimum 25kt capacity in the Netherlands. The plant will
purify PS waste and deliver high-quality recycled PS pellets via
the Super Clean recycling process. The anticipated startup date of
the plant in the Netherlands is 2024. There is also an intended
execution of a long-term tolling and off-taking agreement.
“The Trinseo–GMP collaboration is yet another important move
toward helping our customers reach their sustainability goals and
closing the loop for a circular economy, and both companies realize
that the most successful way to do this is through synergy along
the value chain,” said Nicolas Joly, Trinseo’s Senior Vice
President, Plastics and Feedstocks. “This collaboration shows our
continuous efforts in sustainability marching toward our 2030
sustainability goals.”
“This partnership is an essential step forward in our strategies
contributing to a healthier world and increased sustainability.
Every day, we look for circular business innovations like valuing
plastic waste by recycling it into new resources. Together with
Trinseo, we can now develop, build, and operate a state-of-the-art
recycling plant in Europe. This will increase the reuse of a
substantial volume of polystyrene in consumer food packaging.
Furthermore, we can provide other sustainability solutions and
improve circularity in various value chains,” said Gerard Putman,
General Director of GMP Group.
The intended collaboration will see the two companies conduct
research into other supply and processing opportunities, utilizing
their combined technology expertise to help develop more
sustainable solutions.
About Trinseo Trinseo (NYSE: TSE), a specialty material
solutions provider, partners with companies to bring ideas to life
in an imaginative, smart, and sustainability-focused manner by
combining its premier expertise, forward-looking innovations and
best-in-class materials to unlock value for companies and
consumers.
From design to manufacturing, Trinseo taps into decades of
experience in diverse material solutions to address customers’
unique challenges in a wide range of industries, including consumer
goods, mobility, building and construction, and medical.
Trinseo’s approximately 3,400 employees bring endless creativity
to reimagining the possibilities with clients all over the world
from the company’s locations in North America, Europe, and Asia
Pacific. Trinseo reported net sales of approximately $4.8 billion
in 2021. Discover more by visiting www.trinseo.com and connecting
with Trinseo on LinkedIn, Twitter and Facebook.
About GMP Group In more than 30 years, the Dutch family
owned GMP Group has gained a wealth of deeper expertise and
experience in sustainability, recycling, and circular business.
With forward looking entrepreneurship, GMP Group can create smart
transformations as well as innovative value chains. Earlier founded
companies for waste recycling solutions have been acquired by
Renewi plc. GMP Group is a circular business innovations company
participating from capital investments, strategies and
implementations to full operational management. More information
www.gmpgroup.eu.
Cautionary Note on Forward-Looking Statements This press
release may contain forward-looking statements including, without
limitation, statements concerning plans, objectives, goals,
projections, strategies, future events or performance, and
underlying assumptions and other statements, which are not
statements of historical facts or guarantees or assurances of
future performance. Forward-looking statements may be identified by
the use of words like "expect," "anticipate," "intend," "forecast,"
"outlook," "will," "may," "might," "see," "tend," "assume,"
"potential," "likely," "target," "plan," "contemplate," "seek,"
"attempt," "should," "could," "would" or expressions of similar
meaning. Forward-looking statements reflect management’s evaluation
of information currently available and are based on our current
expectations and assumptions regarding our business, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict.
Factors that might cause future results to differ from those
expressed by the forward-looking statements include, but are not
limited to, our ability to complete construction and commence
operation of a polystyrene pretreatment or regeneration plant to
purify and recycle polystyrene waste; our ability to successfully
execute our transformation strategy and business strategy; our
ability to integrate acquired businesses; global supply chain
volatility, increased costs or disruption in the supply of raw
materials or increased costs for transportation of our products;
the nature of investment opportunities presented to the Company
from time to time; and those factors discussed in our Annual Report
on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere
in our other reports, filings and furnishings made with the U.S.
Securities and Exchange Commission from time to time. As a result
of these or other factors, our actual results may differ materially
from those contemplated by the forward-looking statements.
Therefore, we caution you against relying on any of these
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date hereof. We
undertake 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220630005038/en/
Press: Trinseo Peggy Sung Email: peggysung@trinseo.com
Trinseo (NYSE:TSE)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Trinseo (NYSE:TSE)
Historical Stock Chart
Von Apr 2023 bis Apr 2024