By: ICN Bureau
Last updated : April 06, 2023 5:53 pm
The transaction is expected to close within the next several weeks.
Trinseo, a specialty material solutions provider, announced that it has signed an agreement to sell its land, buildings and equipment in Matamoros, Mexico to Plaskolite. The transaction is expected to close within the next several weeks.
In December 2022, Trinseo announced the consolidation of some of its PMMA sheet products from the Matamoros site into its continuous sheet manufacturing operations in Florence, Kentucky as part of the company’s asset restructuring initiatives. Plaskolite will not acquire any portion of Trinseo’s sheet business.
“The consolidation of our sheet manufacturing business helps us optimize our resources and continue to deliver on our transformation strategy,” said Trinseo President and CEO Frank Bozich. “Our sale of the Matamoros assets to Plaskolite will provide an opportunity for the plant to continue to operate and provide jobs for the Matamoros community.”
The Matamoros plant is located on nearly 11 acres in Matamoros City in the state of Tamaulipas, Mexico.