HORGEN, Switzerland--(BUSINESS WIRE)--Trinseo (NYSE: TSE), a specialty material solutions provider, and GMP Group (GMP), a circular business innovations company in the Netherlands, announced jointly today their intended concerted efforts in further unlocking the circularity of polystyrene (PS).
PS is a common material used in numerous applications, including packaging and consumer goods. Food-contact PS is an ideal material for food packaging, and recycled food-contact PS helps contribute to the circularity of packaging materials, especially when packaging waste remains a concern in many domains.
Trinseo and GMP’s collaboration aims at providing a framework for cooperation, on an exclusive basis, the construction and operation by GMP of an advanced pretreatment or regeneration plant with a minimum 25kt capacity in the Netherlands. The plant will purify PS waste and deliver high-quality recycled PS pellets via the Super Clean recycling process. The anticipated startup date of the plant in the Netherlands is 2024. There is also an intended execution of a long-term tolling and off-taking agreement.
“The Trinseo–GMP collaboration is yet another important move toward helping our customers reach their sustainability goals and closing the loop for a circular economy, and both companies realize that the most successful way to do this is through synergy along the value chain,” said Nicolas Joly, Trinseo’s Senior Vice President, Plastics and Feedstocks. “This collaboration shows our continuous efforts in sustainability marching toward our 2030 sustainability goals.”
“This partnership is an essential step forward in our strategies contributing to a healthier world and increased sustainability. Every day, we look for circular business innovations like valuing plastic waste by recycling it into new resources. Together with Trinseo, we can now develop, build, and operate a state-of-the-art recycling plant in Europe. This will increase the reuse of a substantial volume of polystyrene in consumer food packaging. Furthermore, we can provide other sustainability solutions and improve circularity in various value chains,” said Gerard Putman, General Director of GMP Group.
The intended collaboration will see the two companies conduct research into other supply and processing opportunities, utilizing their combined technology expertise to help develop more sustainable solutions.
About Trinseo
Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart, and sustainability-focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.
From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers’ unique challenges in a wide range of industries, including consumer goods, mobility, building and construction, and medical.
Trinseo’s approximately 3,400 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company’s locations in North America, Europe, and Asia Pacific. Trinseo reported net sales of approximately $4.8 billion in 2021. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, Twitter and Facebook.
About GMP Group
In more than 30 years, the Dutch family owned GMP Group has gained a wealth of deeper expertise and experience in sustainability, recycling, and circular business. With forward looking entrepreneurship, GMP Group can create smart transformations as well as innovative value chains. Earlier founded companies for waste recycling solutions have been acquired by Renewi plc. GMP Group is a circular business innovations company participating from capital investments, strategies and implementations to full operational management. More information www.gmpgroup.eu.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to complete construction and commence operation of a polystyrene pretreatment or regeneration plant to purify and recycle polystyrene waste; our ability to successfully execute our transformation strategy and business strategy; our ability to integrate acquired businesses; global supply chain volatility, increased costs or disruption in the supply of raw materials or increased costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; and those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
