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Slide #27. Taminco Corporation — Formic Acid Business Of Kemira Oyj
Taminco Corporation (TAM)
Formic Acid Business Of Kemira Oyj
Taminco Corp. (NYSE:TAM), the world's largest producer of alkylamines and alkylamine derivatives, today announced that it has signed a definitive agreement to acquire the formic acid business of Kemira Oyj for a transaction value of approximately EUR 140 (USD 190) million. The formic acid business serves a number of end-markets driven by key global "mega-trends", such as animal nutrition, water treatment and energy. Upon closing, Taminco will acquire a business with EBITDA of approximately EUR 23 (USD 32) million, a manufacturing facility for formic acid and derivatives located in Oulu, Finland, and approximately 160 employees across Finland, the Netherlands, Germany, China, the U.S. and Brazil. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the first quarter of 2014 and is subject to the fulfillment of customary closing conditions.
Taminco is a holding company. Through its subsidiaries, Co. is a producer of alkylamines and alkylamine derivatives. Co. has three segments: Functional Amines, which serves customers that uses its alkylamine products in their chemical processes for the production of formulated products in end markets such as agriculture; Specialty Amines, which sells alkylamine derivatives for use in the water treatment, personal & home care, oil & gas and animal nutrition end-markets, and specialty additives in the pharmaceutical, industrial coatings and metal working fluid end-markets; and Crop Protection, which sells alkylamine derivatives for use in the agriculture and crop protection end-markets.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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