US styrenics producer Trinseo (Berwyn, Pennsylvania; www.styron.com) has agreed to sells its Brazilian latex binders and compounded PP businesses to Qoppar Participações, a holding company based in Barueri, São Paulo, which manages industrial and chemical assets in the country. The sale includes a binders manufacturing plant in Guaruja and an automotive parts facility in Limao, as well as laboratory assets, customer lists and contracts.

Trinseo said it was selling the businesses because it believed that a Brazilian company such as Qoppar would be better positioned to unlock their full value. The company added that it lacked a sufficient footprint and critical mass to sustain operations in the region, given factors such as currency challenges and the high complexity of doing business in the country.

The global latex and performance plastics businesses, however, remain of strategic importance and Trinseo said it would continue to invest in them.

Financial details of the transaction, which is expected to complete in the fourth quarter of 2016, were not disclosed.