Trinseo Announces Additional Restructuring Initiatives
Trinseo PLC Ordinary Shares (TSE)
Last trinseo plc ordinary shares earnings: 2/6 04:15 pm
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Source: Business Wire
Business and support function consolidation as well as exit of virgin polycarbonate production expected to result in $45 million to $50 million of annualized profitability improvement WAYNE, Pa.--(BUSINESS WIRE)--Trinseo (NYSE: TSE) (Trinseo or “the Company”), a specialty materials solutions provider, today announced restructuring initiatives to better position the business for longer-term growth, improved profitability, and increased cash generation.Effective October 1, 2024, the Company is combining the management of its Engineered Materials, Plastics Solutions and Polystyrene businesses, resulting in a reduction in workforce due to the consolidation of business management roles and support functions. These actions began in the third quarter of 2024 and are anticipated to be substantially complete by the end of 2025. The expected annualized run rate cost savings is $30 million with approximately $25 million realized in 2025 and the full run rate achieved by the end of 2026.The ne
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