Synthos’s success – the approval of the European Commission on taking over Trinseo’s business in Germany
On October 21, Synthos has got the green light from European Commission to finalize the taking over Trinseo’s rubber business transaction. In May 2021 Synthos signed an agreement with Trinseo on purchasing their synthetic rubbers production plants located in Schkopau. The condition for abovementioned agreement to be effective was obtaining by Synthos a permission from antimonopoly office.
– Taking over Trinseo’s Schkopau-based operations, including its manufacturing and research and development facilities, allows Synthos to access new higher-margin markets. Moreover, the transaction expands its geographic footprint, including in Asia, and leverage on significant synergies between the two businesses.
We believe that the Synthetic Rubber Business brings a range of technologically advanced SSBRs, including functionalized SSBR grades used for high-performance tires (low resistance tires and tires for electric vehicles). This acquisition fits into our strategy of continuous product portfolio expansion, which will allow us to satisfy the complete needs of the customer, which is a critical factor for success in the global synthetic rubber market. By making the acquisition and combining our already strong technical and research and development capabilities with those of the Synthetic Rubber Business, we believe that we will even better prepared to take advantage of global megatrends, including the green mobility revolution, circularity and the control of CO2 emissions – says Zbigniew Warmuz, CEO of Synthos after executing the contract.
– This is our great success. Synthos has obtained the unconditional and explicit consent within the assumed time. We are very happy we have managed this. The trust that the European Commission placed in us gives us not only satisfaction, but also motivation and commitment to further work. Transactions to be finalized, a smooth take-over of the business as well as the integration of two organisations become our top priority now, added Zbigniew Warmuz after gaining the EU Commission’s approval.