Trinseo, the materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, says it has completed the acquisition of Synthomer plc.’s vinyl pyridine latex (VP latex) business. Trinseo says the acquisition was funded with cash on hand; the value of the transaction is not material to the company.
VP latex is an essential ingredient in binders for coating tire cord fabrics, ensuring a strong bond between the tire cord and rubber during the tire manufacturing process.
Commenting on the acquisition, Frank Bozich, President and CEO of Berwyn, Pennsylvania-headquartered Trinseo, noted that Trinseo is a leader in latex binder chemistry, and a long-standing supplier of synthetic rubber to the tire industry, and that the acquisition “aligns well with our strategy to grow our Latex Binders business in Coatings/CASE applications, and also reinforces our position as a solutions provider to the high-performance tire segment.”
No physical assets or employees are transferring to Trinseo, as the transaction includes product recipes, customer lists and associated intellectual property related to the tire cord binders business. As part of the acquisition, Trinseo has established agreements with UK-based Synthomer for contract manufacturing the products at Synthomer’s production facility at Marl, Germany, where the products will continue to be produced.