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Kemira Oyj sells ChemSolutions' formic acid business to Taminco Corporation


Monday, 23 Dec 2013 02:30am EST 

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

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