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Business

Taminco Will Enter Formic Acid Market

by Michael McCoy
January 6, 2014 | APPEARED IN VOLUME 92, ISSUE 1

Taminco has signed an agreement to acquire Kemira’s formic acid business for $190 million. Allentown, Pa.-based Taminco, which bills itself as the world’s largest producer of alkylamines, says the purchase will take it into a new business with a plant in Finland and annual sales of $190 million. Taminco CEO Laurent Lenoir notes that formic acid and its derivatives are sold into markets such as animal nutrition, water treatment, and energy that his firm already serves. Kemira, for its part, says the sale will leave it focused solely on water treatment chemicals.

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