Air Products Completes Sale of Amines Business to Taminco
Monday October 2, 4:30 am ET
LEHIGH VALLEY, Pa., Oct. 2 /PRNewswire-FirstCall/ -- Air Products today said it has completed the previously announced sale of its Amines business for $211 million to Taminco, one of the world's largest producers of methylamines and methylamine derivatives.
"We are pleased to complete this sale to Taminco at a price consistent with our expectations. This sale is another example of us moving toward becoming a more focused, less cyclical and higher growth company. We thank all of the employees involved for their hard work in improving the business and completing this sale," said John Jones, Air Products' chairman and chief executive officer.
The sale of the amines business, which generated approximately $310 million in revenues in fiscal year 2006, includes production facilities located in Pace, Fla.; St. Gabriel, La.; and Camacari, Brazil. The approximately 225 employees directly associated with this business will continue with Taminco, which has plans to open an office in the Lehigh Valley area. The amines business produces methylamines and higher amines products used globally in many household, industrial and agricultural products.
Source: Air Products
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