Taminco sold to Eastman Chemical

United States
Published:  09 October, 2014

Taminco Corp the world's largest producer of alkylamines and alkylamine derivatives, announced in September an agreement to be acquired by Eastman Chemical Company for approximately $2.8 billion in cash. The transaction was approved by the Board of Directors of Taminco and the Board of Directors of Eastman. Taminco manufacture the chrome-free tanning system, Tanfor-T.

Taminco is a global specialty chemical company, with a clear focus on niche markets such as leather. Taminco is the world's leading producer of alkylamines & derivatives and a major producer of formic acid & derivatives, supplying diversified, global end markets. Taminco’s products are used by customers in the manufacture of a diverse array of products for the agriculture, animal nutrition, water treatment, personal & home care. Part of the company, ChemSolutions that makes the tanning agents was sold earlier this year by Kemira to Taminco. Tanfor-T is an alternative tannage to chrome and is based on aluminium silicates and short-chain organic acids.

“We believe this transaction marks the beginning of an exciting new chapter for Taminco, our employees, customers and the communities we serve, while providing immediate value to our shareholders at a premium to our share price,” said Laurent Lenoir, Chief Executive Officer of Taminco.

Taminco is a global specialty chemical company, with a focus on niche markets. Taminco is the world's leading producer of alkylamines & derivatives and a major producer of formic acid & derivatives, supplying diversified, global end markets. Taminco currently operates in 23 countries with eight production facilities.

Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately $9.4 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. 

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