December 9, 2014

Eastman Chemical acquires Taminco for US$2.8 billion

Eastman Chemical has completed its buyout of specialty chemical company Taminco Corporation for US$2.8 billion in cash and assumed debt.

Taminco announced the deal in September 2014.

Taminco is a top producer of alkylamines, organic compounds used to make products for multiple end-use markets including agriculture and animal nutrition.

Taminco's former Specialty Amines and Crop Protection businesses will now be a part of Eastman Chemical's Additives & Functional Products division, while its Functional Amines business will operate under Eastman's Specialty Fluids & Intermediates unit.

The acquisition is expected to strengthen Eastman's position in niche end-markets including food, feed and agriculture where Taminco has a strong presence.