Eastman Takes Control of China’s TALT
US producer Eastman Chemical has reached agreement for its wholly owned subsidiary Taminco BVBA to take over the 50% share in China’s Te An Ling Tian Fine Chemical (TALT), its joint venture with Mitsubishi Gas Chemical and other Japanese inventors.
Established in 2007 and headquartered in Nanjing, TALT manufactures amines and specialty derivatives, including solvents and alkyl alkanolamines. Eastman said TALT’s products will expand the Care Chemicals and Energy businesses of its Additives & Functional Products segment.
“This acquisition demonstrates our commitment to the growing markets of home and personal care, water treatment, and energy, in Asia and our global customers. We believe 100% ownership of TALT will allow us to work more closely with customers by leveraging our global presence and regional footprint to further innovate and differentiate in these markets,” said Christian Derbez, regional business director, Asia, Additives & Functional Products. He added that the Nanjing location allows Eastman to further expand its amines integration model and platform for future growth and investments in Asia.
The acquisition is expected to close in the first quarter of 2017. Financial terms were not disclosed.
