Lanxess in talks about acquiring Taminco

LEVERKUSEN, Germany – Lanxess is in talks to buy Belgian chemicals group Taminco NV from private equity firm CVC Capital Partners for about EUR 1 billion or $1.4 billion, the Financial Times Deutschland reported.

The acquisition would reportedly be the largest in Lanxess’ history. Taminco, which produces alkylamines and alkylamine derivatives, reported sales of EUR 715 million and profit of EUR 41 million in 2010. Taminco has eight production plants worldwide dedicated to the production of alkylamines and alkylamine derivatives, comprising two large facilities each in Europe and the United States, and smaller facilities in China and Brazil.

The company employs 800 people in 16 countries worldwide. Taminco, which was spun off in 2003 from the chemical and pharmaceutical company UCB, was acquired by CVC Capital Partners in 2007 for an enterprise value of EUR 800 million.

Source: Rubber World