Eastman Chemical Signs Agreement to Buy Taminco Corp.
ALLENTOWN, PA - Taminco Corp., a leading producer of alkylamines and alkylamine derivatives, announced a definitive agreement to be acquired by Eastman Chemical Co. in a transaction valued at approximately $2.8 billion in cash. The Boards of Directors of both Taminco and Eastman approved the transaction.
"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. "The opportunity to be acquired by Eastman will provide us with greater resources to pursue our ongoing long-term strategy of expansion into key markets and leveraging our existing skill set to expand into attractive new product lines."