Taminco Corporation To Enter A New Specialty Chemicals Niche Market - Announces Agreement To Acquire The Formic Acid Business Of

    Taminco Corporation To Enter A New Specialty Chemicals Niche Market -
    Announces Agreement To Acquire The Formic Acid Business Of Kemira Oyj

PR Newswire

ALLENTOWN, Pa., Dec. 23, 2013

ALLENTOWN, Pa., Dec. 23, 2013 /PRNewswire/ --Taminco Corp. (NYSE:TAM), the
world's largest producer of alkylamines and alkylamine derivatives, today
announced that it has signed a definitive agreement to acquire the formic acid
business of Kemira Oyj for a transaction value of approximately EUR 140 (USD
190) million. The formic acid business serves a number of end-markets driven
by key global "mega-trends", such as animal nutrition, water treatment and
energy. Upon closing, Taminco will acquire a business with EBITDA of
approximately EUR 23 (USD 32) million, a manufacturing facility for formic
acid and derivatives located in Oulu, Finland, and approximately 160 employees
across Finland, the Netherlands, Germany, China, the U.S. and Brazil. The
transaction, which has been unanimously approved by the boards of directors of
both companies, is expected to close in the first quarter of 2014 and is
subject to the fulfillment of customary closing conditions.

Taminco's entry into the formic acid market continues its implementation of a
long term strategy of accretive investment in niche businesses with strong
outlooks, attractive end-markets, and high levels of similarities with
Taminco's core competencies. The transaction, which will be financed through
a combination of cash on hand and committed financing, will generate
significant value for both Taminco and Kemira, including the agreement by the
parties to enter into several long term supply and service agreements
following the closing.

"As a leading specialty chemical producer, Taminco is excited to advance its
long term, ongoing strategy of expansion into key markets through the addition
of high quality, niche businesses. Our entry into the formic acid space is an
opportunity to leverage our existing skill-set to expand into attractive new
product lines, as well as achieve numerous synergies that will continue to
optimize value for all of our stakeholders," said Laurent Lenoir, Taminco's
Chief Executive Officer. "We are pleased to welcome a great team of formic
acid business employees to Taminco, and look forward to working together to
grow Taminco's global leadership position in specialty chemicals."

"The formic acid business is a well performing and solid business – however,
with no synergies to Kemira's water related core businesses. After the
divestment of the formic acid business, Kemira will become a purely
water-focused chemical company based on three segments: Paper, Oil & Mining,
and Municipal & Industrial. After the successful execution of several
non-core divestitures in 2013, Kemira's management resources and financing
capabilities will be fully focused on growth and profitability improvement in
the core businesses," said Wolfgang Buchele, Kemira's President and CEO.

Legal advisors to Taminco are Kirkland & Ellis LLP, Waselius & Wist and
O'Melveny & Myers LLP (with respect to environmental matters). Financial
advisor to Kemira is Skandinaviska Enskilda Banken AB and legal advisor is
White & Case LLP.

Conference Call

Taminco will host a conference call at 8:00 am (Eastern Time) today to discuss
the announcement. A slide presentation for the call will be available on the
Investors section of Taminco's Web site at www.taminco.com. The conference
call can be accessed live over the phone by dialing 877-407-0784, or for
international callers, 201-689-8560. A replay will be available approximately
two hours after the call and can be accessed by dialing 877-870-5176, or for
international callers, 858-384-5517. The passcode for the live call and the
replay is 13574132. Interested investors and other parties may also listen to
a simultaneous webcast of the conference call by logging onto the Investor
Relations section of the Company's website at www.taminco.com. The on-line
replay will be available for a limited time beginning immediately following
the call.

About Taminco Corporation

Taminco is the world's largest integrated producer of alkylamines and
alkylamine derivatives. Taminco's products are used by its customers in the
manufacture of a diverse array of everyday products for the agriculture, water
treatment, personal & home care, animal nutrition and oil & gas end-markets.
Taminco's products provide these goods with a variety of ancillary
characteristics required for optimal performance. Taminco currently employs
about 850 people and operates in 19 countries with seven production facilities
in the U.S., Europe and Asia.

Newly Acquired Products

Formic acid, formates, formamide and other formic derivatives.

About Kemira Oyj

Kemira is a global chemicals company serving customers in water-intensive
industries. It provides expertise and chemicals that improve its customers'
water, energy and raw material efficiency. Kemira's focus is on pulp & paper,
oil & gas, mining and water treatment. In 2012, Kemira had annual revenue of
EUR 2.2 billion and around 4,900 employees. Kemira's shares are listed on the
NASDAQ OMX Helsinki Ltd.

Forward-Looking Statements

In this press release, all statements that are not purely historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements may be identified by the words "believe," "expect,"
"anticipate," "project," "plan," "estimate," "intend" and other similar
expressions. Forward-looking statements are based on currently available
business, economic, financial and other information and reflect management's
current beliefs, expectations and views with respect to future developments
and their potential effects on Taminco and Kemira. Actual results could vary
materially depending on risks and uncertainties that may affect Taminco and
Kemira and their respective businesses. For a discussion of such risks and
uncertainties, please refer to Taminco's and Kemira's filings with the
Securities and Exchange Commission. Taminco and Kemira assume no obligation
to update any forward-looking statement made in this press release to reflect
subsequent events or circumstances or actual outcomes.

SOURCE Taminco Corporation

Website: http://www.taminco.com
Contact: Taminco Corporation, Investor Relations Inquiries:
investorrelations@taminco.com, 610.366.6925
 
Press spacebar to pause and continue. Press esc to stop.