Trinseo Reports Strategic Plans in Europe, Dividend Suspension

Trinseo says it will close facilities in Italy as it suspends its dividend. Company expects to record pre-tax charges on the restructuring.

• Company will permanently close its methyl methacrylate production operations at its Rho, Italy facility and its acetone cyanohydrin production operations in Porto Marghera, Italy, according to a statement
• Trinseo will continue its polymethyl methacrylate operations along with its recently opened depolymerization pilot facility in Rho
• Closures are expected to be completed by the end of the year and are likely to result in annualized profitability improvement of ~$20 million and an annual reduction in capital expenditures of ~$10 ...