Trinseo Announces Restructuring Initiatives for Long-Term Growth [Yahoo! Finance]
Flowserve Corporation (FLS)
Last flowserve corporation earnings: 2/17 04:20 pm
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Source: Yahoo! Finance
These initiatives will improve Trinseo's profitability and increase cash generation. Trinseo's Structural Changes The company is consolidating its Engineered Materials, Plastics Solutions and Polystyrene businesses beginning Oct. 1, 2024. This move will minimize the workforce by consolidating management positions and support roles. Francesca Reverberi, senior vice president of engineered materials , will lead the newly consolidated businesses. The company expects the restructuring to be substantially complete by the end of 2025. Trinseo also announced that it would discontinue virgin polycarbonate production at its Stade, Germany facility by January 2025. The company will then purchase polycarbonate from external vendors, resulting in a yearly run rate profitability improvement of $15-20 million. Financial Impacts of Restructuring on TSE Trinseo anticipates saving $30 million annually by consolidating the business, with $25 million realized in 2025 and the full benefits by
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FLS
Earnings
- 10/28/24 - Miss
FLS
Sec Filings
- 11/12/24 - Form 4
- 11/8/24 - Form SC
- 11/8/24 - Form SC
- FLS's page on the SEC website