Trinseo, the $3.7 billion-in-yearly-sales, Berwyn-based company that makes hard plastics — the kinds used in smartphone cases, Legos, car consoles, and refrigerator liners — says it has agreed to pay $82 million in cash for soft-plastics maker API Applicazioni Plastiche Industriali SpA and its factory and research lab in Mussolente, near Venice, Italy.
The API deal, Trinseo’s first acquisition since the company was spun off by Dow Chemical Co. in 2010, will help its Performance Materials business division sell more to manufacturers around the world, Chris Pappas, Trinseo’s president and CEO, said in a statement Thursday.
The sale is a “natural evolution,” said API vice president Lorenzo Brunetti, whose father, Sergio Brunetti, founded the works 60 years ago to make thermoplastic elastomers (TPEs), which are used in plastic wraps. API general manager Sandro Gusi said his company had been looking for a deep-pocketed global partner such as Trinseo since it began expanding to international markets 10 years ago.
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