Trinseo to sell polycarbonate technology license, equipment for $52.5M

Trinseo (TSE) announced it has entered into agreements to supply a polycarbonate technology license as well as all proprietary polycarbonate production equipment in Stade, Germany to a wholly owned subsidiary of Deepak Nitrite for use in India. Deepak, headquartered in Vadodara, Gujarat, India, is a multi-division and multi-product chemical intermediates company. The total value of the combined agreements is $52.5M. The company expects to receive approximately $9M by the end of 2024 and an additional approximately $21M in the first half of 2025, subject to key milestones. With this disposition of the manufacturing assets in Stade, Germany, the company has decided to exit the site.