Trinseo Enters into Definitive Agreement to Acquire Heathland B.V.

Acquisition will accelerate the Company’s transformation into a specialty materials and sustainable specialty solutions provider

Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics and latex binders, today announced its entry into a definitive agreement to acquire Heathland B.V. (“Heathland”), a leading collector and recycler of post-consumer (PCR, EoL) and post-industrial (PIR) plastic wastes in Europe.

As a plastic waste collector and recycler based in Utrecht, the Netherlands, Heathland is focused on converting PCR and PIR polymethyl methacrylate (PMMA), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polystyrene (PS) and other thermoplastic waste. The company collects, pre-treats and processes plastic waste materials using mechanical and chemical recycling processes, and captures the materials’ maximum value by transforming them into high quality recycled raw materials for a wide range of high-end applications. Heathland is well established in Europe with several notable projects, including MMATwo and REVOLUTION, which are funded by the Horizon 2020 program of the European Commission.

“We are thrilled to enter into a definitive agreement with Heathland and look forward to growing together as we learn from their significant recycling expertise,” said Francesca Reverberi, Senior Vice President and Chief Sustainability Officer of Trinseo. “In order to be successful as a sustainable solutions provider, it is essential that we have access to comprehensive recycling technologies and can secure plastic wastes as feedstock. This agreement is an extension of our commitment to investing in the movement toward a circular economy.”

The acquisition serves as an important milestone of Trinseo’s transformation journey into a specialty materials and sustainable solutions provider. As the Company’s extensive sustainable product portfolio continues to grow, this agreement will help meet market demand by securing a reliable source of recycled feedstock through the addition of a plastic waste collection business and enhancing the ongoing development of plastic recycling technologies.

Nikolaj Garnitsch and Simon van der Heijden are both Co-founders and Managing Directors of Heathland. Nikolaj indicated, “We truly believe this move will bring significant value to the plastics value chain and serve as an exciting step toward realizing a circular economy.” Simon added, “As a company dedicated to value creation through recycling, we share the same values as Trinseo and our business and product portfolios are complementary. There is a common goal to recycle in ways that bring most value out of waste feedstock, avoiding downcycling, and to produce circular raw materials of the highest grade, thereby facilitating the use of recycled raw material as a seamless alternative to virgin plastics. And both companies strive for excellence while doing that, which reflects on our valued customers, the organization itself and the environment. We believe the shared vision and global footprint of Trinseo will bring us to the next level.”

The investment is aligned with Trinseo’s 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.

About Trinseo

Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics and latex binders 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 and building and construction. Trinseo had approximately $3.0 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,400 employees.

About Heathland

Heathland is a collector and recycler of post-consumer (PCR, EoL) and post-industrial (PIR) plastic waste, situated in Utrecht, the Netherlands. Its recycling service is focused on a wide array of plastic wastes with particular focus on PMMA, PC, ABS and PS. Collected plastic wastes are pre-treated and processed by means of mechanical and chemical recycling processes. Heathland’s goal is to create maximum value for its waste suppliers, its customers for the end-products, and its value-chain partners. At Heathland, plastic waste is recycled according to the latest national and international (waste) regulation. Recycled raw material is made to the customers specification or as a commodity in accordance with industry standards. The end-result are a circular raw materials of the highest grade suitable for top-end products.

Contact

Trinseo
Peggy Sung
email: peggysung@trinseo.com

Source

Trinseo, press release, 2021-12-07.

Supplier

Heathland B.V.
Trinseo SA

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