The Company operates through four reportable segments: Engineered Materials, Latex Binders, Polymer Solutions, and Polystyrene. The Latex Binders segment encompasses coatings, adhesives, sealants, and elastomers (CASE) applications. The Company has capabilities to convert post-consumer and post-industrial waste for use in high-end applications and operates pilot facilities for polycarbonate (PC) dissolution in Terneuzen, the Netherlands; polymethyl methacrylates (PMMA) depolymerization in Rho, Italy; and acrylonitrile butadiene styrene (ABS) dissolution in Terneuzen, the Netherlands.
The Company has undertaken restructuring initiatives including product line shutdowns, workforce reductions, and closure of underperforming plants and product lines such as global styrene manufacturing, virgin polycarbonate manufacturing and the polycarbonate plant at Stade, Germany; methyl methacrylate (MMA) production in Rho, Italy; acetone cyanohydrin (ACH) production in Porto Marghera, Italy; and polystyrene (PS) production in Schkopau, Germany. Downstream styrene, polycarbonate, and MMA requirements will be sourced from external suppliers.
The Company is pursuing organic growth through expansion into key markets and strategic capital investments focused on technologies and solutions for specialty grades, new and sustainable products, and technologically differentiated formulations. It is also evaluating strategic alternatives to divest all or part of its styrenics businesses, including its polystyrene business and interest in Americas Styrenics LP, with an announced intention to sell its share in Americas Styrenics in 2024. This separation of the styrenics business aligns with the Company’s long-term strategy to transform into a higher growth, higher margin, and less cyclical specialty and sustainable materials provider.
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