Eastman Chemical Company completed its acquisition of specialty chemical producer Taminco Corporation for $2.8 billion in cash and assumed debt, according to an article in the Kingsport Times News. The Taminco businesses are expected to be accretive to 2015 earnings per share by greater than $0.35, excluding acquisition-related costs and charges, and to 2016 earnings per share by greater than $0.60.
Eastman executives told analysts earlier this year that the acquisition would strengthen the company’s presence in the agricultural and personal care business lines, according to the article. Eastman’s additives and functional products segment will operate Taminco’s former specialty amines and crop protection businesses. Taminco’s former functional amines business will operate under Eastman’s specialty fluids and intermediates segment.
