Initial steps for collaborative partnership with Deepak, says Bozich
Trinseo (NYSE: TSE), a specialty materials solutions provider headquartered in Wayne, Pennsylvania, has entered into agreements to supply a polycarbonate technology license as well as all proprietary polycarbonate production equipment in Stade, Germany, to a wholly owned subsidiary of Vadodara’s Deepak Nitrite Limited for use in India.
Deepak is a multi-division and multi-product chemical intermediates company.
“While Trinseo recently announced its decision to exit virgin polycarbonate production, our polycarbonate technology is highly valued and the manufacturing equipment in Stade, Germany, can be utilized in India by Deepak,” said Frank Bozich, President and Chief Executive Officer of Trinseo.
“These are the initial steps of a strategic, collaborative partnership with Deepak, as we explore additional opportunities to leverage our technology portfolio and expand in higher-growth areas such as India,” he said on 13 Nov.
The total value of the combined agreements is US$52.5 million. The company expects to receive approximately US$9 million by the end of 2024 and an additional approximately US$21 million in the first half of 2025, subject to key milestones.
Trinseo serves global clients from its locations in North America, Europe, and Asia Pacific. Fiinews.com
