Trinseo PLC (TSEOF): restructuring charge — Trinseo plans plant closures in Germany, Mexico, Finland; expects $79M-$89M restructuring charges

Trinseo PLC

Approves restructuring plan to close Boehlen, Germany styrene plant, partial Stade polycarbonate line, Matamoros PMMA sheet site, and cut Hamina SB latex capacity.
Expects total restructuring charges of $79M-$89M, with $55M-$61M in Q4 2022; cash portion $67M-$77M through 2024.
EU Commission fines company €32.6M for styrene purchasing probe; fine already accrued and paid in December 2022.
Plan aims to reduce costs, improve profitability, and address cyclical markets and high natural gas prices.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Trinseo PLC announced a restructuring with charges of $79 million to $89 million affecting Boehlen, Germany styrene plant; Stade, Germany polycarbonate line; Matamoros, Mexico PMMA sheet site; Hamina, Finland SB latex plant.

Type: restructuring
Charge: $79 million to $89 million
Affected area: Boehlen, Germany styrene plant; Stade, Germany polycarbonate line; Matamoros, Mexico PMMA sheet site; Hamina, Finland SB latex plant

Exact text from the filing

The Company expects to incur total restructuring charges in connection with the Restructuring Plan ranging from approximately $79 million to $89 million.

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Source: SEC EDGAR

accession 0001558370-22-018794

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