Kingsport, Tennessee-based Eastman Chemical Co. has completed its buyout of specialty chemicals company Taminco Corp. for $2.8 billion and $1 billion in assumed debt, according to Zacks Equity Research.
The deal was originally announced in September.
Taminco produces alkylamines, which are used to make agrictultural, animal nutritiion, water treatment and personal care products.
“We are pleased to complete this transaction and welcome Taminco employees to the global Eastman team,” said Mark Costa, chairman and chief executive officer of Eastman Chemical. “Taminco’s world-class alkylamine technology platform and strong presence in attractive niche end markets will further strengthen our position as a leading specialty chemical company. We are committed to successful integration of Taminco and look forward to delivering the projected synergies of this transaction.”
Taminco’s former Specialty Amines and Crop Protection businesses will be operated as part of the Additives & Functional Products segment and its former Functional Amines business will be operated as part of the Specialty Fluids & Intermediates segment.
