Kemira sells formic acid business Taminco, Allentown, Pennsylvania, US

Kemira to sell formic acid business to Taminco

6:32 AM, 24th December 2013
Kemira sells formic acid business

HELSINKI, FINLAND: Kemira signed an agreement to sell its formic acid business, including the feed and the airport runway deicing product lines, to Taminco, Allentown, Pennsylvania, US.  The transaction includes a manufacturing asset for formic acid in Oulu, Finland and approximately 160 employees will transfer to Taminco. The transaction is subject to the fulfillment of customary closing conditions, and the closing is expected during the first quarter in 2014. The agreed transaction price is €140 million and will be paid fully at closing.

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