MOSCOW (MRC) -- Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, has announced that Philip R. Martens and Ruth Springham joined the company’s Board of Directors, effective September 1, 2016, as per the company's press release.
Phil Martens is the former CEO of Novelis, an USD11 billion aluminum producer based in the U.S. In 2013, Martens received the CEO of the Year award at the Platt Global Metals Awards. Prior to joining Novelis, Martens held various senior executive roles at ArvinMeritor and Ford Motor Company. Mr. Martens serves as Chairman of the Board of Graphic Packaging Holding Company, a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies, where he has been director since November 2013. Additionally, he has been a director at Plexus Corporation (NASDAQ: PLXS) since November 2010. Mr. Martens holds an MBA from the University of Michigan and a Bachelor of Science degree in mechanical engineering from Virginia Polytechnic Institute.
Ruth Springham is a Director at Bain Capital Luxembourg, with responsibilities related to corporate governance and mergers and acquisitions. Prior to joining Bain Capital in 2004, she held management roles at Thomson Reuters and Eurostat. Ms. Springham holds a Master of Arts degree from the University of Glasgow. She is on the board of several Luxembourg-based fund complexes and holding companies.
"We are extremely pleased to welcome directors of Phil and Ruth’s caliber to the Trinseo Board of Directors," said Chris Pappas, president and CEO of Trinseo. "Phil has extensive senior executive experience at manufacturing companies with worldwide operations as well as significant public board experience. Ruth’s directorship experiences will provide Trinseo with ongoing corporate governance expertise. Phil and Ruth will be valuable additions to our continued development as an independent publicly traded company."
As MRC wrote previously, in September 2016, Trinseo and its affiliate companies in Europe announced price increases for all polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile styrene copolymer (SAN) grades in Europe. Effective 2 September, or as existing contract terms allow, the September contract and spot prices for the products listed below increased as follows:
- STYRON general purpose polystyrene grades (GPPS), STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR25 per metric ton;
- MAGNUM ABS resins and TYRIL SAN resins - by EUR20 per metric ton.
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD4.0 billion in revenue in 2015, with 18 manufacturing sites around the world, and more than 2,200 employees.