WAYNE, Pa.–(BUSINESS WIRE)– Trinseo (NYSE: TSE) (Trinseo or “the Company”), a specialty materials solutions provider, today announced it 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 Deepak Nitrite Limited (Deepak) for use in India. Deepak, headquartered in Vadodara, Gujarat, India, 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.”
The total value of the combined agreements is $52.5 million. The Company expects to receive approximately $9 million by the end of 2024 and an additional approximately $21 million in the first half of 2025, subject to key milestones. With this disposition of the manufacturing assets in Stade, Germany, the Company has decided to exit the site.