Kingsport, Tennessee – Eastman Chemical has purchased polyurethane catalyst and speciality amines firm Taminco for $2.8bn.
The deal closed in the first week of December. Eastman said it expects earnings from Taminco to add to its balance sheet this year.
Mark Costa, Eastman chairman said the firm bought Taminco for its “world-class alkylamine technology platform and strong presence in attractive niche markets.”
Taminco’s Specialty Amines will sit within Eastman’s Additives & Functional Products business segment.
Eastman, took the opportunity to pay off holders of some of Taminco’s debt. The bond, which was due for payment in 2020 was paying a coupon of 9.75%.