Trinseo Announces New $200 Million Share Repurchase Program
Trinseo (NYSE: TSE), a specialty material solutions provider,
today announced that its Board of Directors authorized a new share
repurchase program of up to $200 million of its ordinary shares,
subject to certain parameters defined by the Board of Directors.
This new authorization, which expires in 18 months, follows the
repurchase of the full $200 million authorization from December
2021. All repurchases will be carried out by way of redemption in
accordance with Irish law and the Company’s constitutional
Frank Bozich, President and Chief Executive Officer of Trinseo,
commented, “Given our history of strong cash generation and our
ongoing portfolio transformation, we view this as an opportune time
to authorize a new share repurchase program. This should enable us
to acquire shares in an accretive fashion to drive value for
shareholders while growing the business in areas of specialty
materials and sustainability.”
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, Facebook and WeChat.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements
including, without limitation, statements concerning plans,
objectives, goals, projections, forecasts, 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, 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 successfully execute our transformation strategy and
business strategy; our ability to integrate acquired businesses;
global supply chain volatility and increased costs or disruption in
the supply of raw materials; increased energy costs or costs for
transportation of our products; the nature of investment
opportunities presented to the Company from time to time; the
outcome of the European Commission’s request for information; and
those 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, performance or achievements 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.
version on businesswire.com: https://www.businesswire.com/news/home/20220906005184/en/
Trinseo Andy Myers Tel: +1 610-240-3221 Email:
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