Trinseo PLC

Good morning, ladies and gentlemen, and welcome to the Transio fourth quarter 2021 financial results conference call. We welcome the Transio management team, Frank Bozich, president and CEO, David Stacey, executive vice president and CFO, and Andy Myers, director of investor relations. Today's conference call will include brief remarks by the management team, followed by a question and answer session. The company distributed its press release along with its presentation slides at close of market Tuesday, February 8th. These documents are posted on the company's investor relations website and furnished on a form 8K filed with the Securities and Exchange Commission. If anyone should require operator assistance during the call, Please press star then zero on your telephone. I will now hand the call over to Andy Myers.

Thank you, Dee, and good morning, everyone. At this time, all participants are in a listen-only mode. After our prepared remarks, instructions will follow to participate in the question and answer session. Our disclosure rules and cautionary note on forward-looking statements are noted on slide two. During this presentation, we may make certain forward-looking statements, including issuing guidance and describing our future expectations. We must caution you that actual results could differ materially from what is discussed, described, or implied in these statements. Factors that could cause actual results to differ include, but are not limited to, risk factors set forth in item 1A of our annual report on Form 10-K, or in our other filings made with the Securities and Exchange Commission. The company undertakes no obligation to update or revise its forward-looking statements. Today's presentation includes certain non-GAAP measurements. A reconciliation of these measurements to corresponding GAAP measures is provided in our earnings release and in the appendix of our investor presentation. A replay of the conference call and transcript will be archived on the company's investor relations website shortly following the conference call. The replay will be available until February 9, 2023. Now, I'd like to turn the call over to Frank Bozich.

Thanks, Andy, and I'd like to welcome everyone who's listening in. 2021 was a great year for Turnzeo as we achieved record profitability, including $440 million of net income and $729 million of adjusted EBITDA. And I'm very proud of everything we accomplished on our transformation journey toward becoming a specialty materials and sustainable solution provider. At the end of 2020, we announced the first major step in our transformation, the acquisition of our PMMA business, which was completed in May. To complement PMMA and further our transformation, we acquired the continuous cash sheet PMMA producer, Aristek Surfaces, in September. We also completed the divestiture of our synthetic rubber business in December. And in early January, we began a formal process to divest our Styrenix business. As a result of these actions, our portfolio is shifting more toward that of a specialty material provider, providing solutions to higher value, higher growth applications. The acquisitions have enabled us not only to increase our product offerings to our current customers in markets such as automotive, consumer products, and construction, but also to expand into additional applications like wellness and sanitary. The financial benefits of the acquisitions, aside from being tied to products with higher margins and more stable earnings, are expected to earn more than $60 million of cost synergies. and numerous additional revenue synergies that we've identified. On the sustainability side, in January of this year, we completed our acquisition of Heathland BV, a leading collector and recycler of post-consumer and post-industrial waste in Europe. This aligns with both our 2030 sustainability goals to increase our offering of sustainable products and with our overall strategy of becoming a sustainable solution provider. One of the largest constraints of growing sales of sustainable products is access to recycled feedstocks. The Heathland acquisition will provide us with an increased and more secure supply of PMMA, polycarbonate, ABS, polystyrene, and other thermoplastic waste to be recycled and processed into a wide range of products. including those that serve high-end applications like consumer electronics. Heathland is a great fit, and the transaction has a lot of industrial logic, given that we were already their largest customer prior to the acquisition, making up more than 10% of the revenue in 2021. We were also focusing on growing our sales of sustainable products organically. In 2021, our sales volume of post-consumer recycled polycarbonate products to consumer electronics market increased by more than 50% over prior year. Our recycled polystyrene products were used commercially for the first time in food contact applications, which provide the packaging industry with a viable, environmentally friendly product, which delivers margins that are two to three times that of standard grades. In addition, to further the use of recycled polystyrene, we are progressing on our polystyrene recycling plant in Saint-Denis, Belgium, which should be operational by 2023. From a business operations standpoint, 2021 was a challenging year, not just for Trinzio, but I'd say for the chemical industry in general. Numerous external factors ranging from weather events to COVID-19 created logistical challenges in tightness in materials, freight, and labor markets. I'm extremely proud of the efforts our people made to address these obstacles in order to deliver our high quality products to our customers, especially while achieving yet another year of stellar EHS performance. 73% of eligible sites in the company received our triple zero award, meaning those sites experienced no injuries, spills, or process safety incidents. As impressive as that number is, we continue to raise the bar we set for ourselves, and we'll attempt to improve our EHS performance in 2022. Now I'm going to turn the call over to Dave who will provide more color on our record financial performance.