Belgiums UCB sells Taminco chemical business

BRUSSELS, Belgium (Nov. 20)—Belgian pharmaceutical and chemicals company UCB has sold its Taminco methylamines and derivatives business to NIB Capital Private Equity for $136.8 million. Ghent, Belgium-headquartered Taminco claims to be one of the world's largest producers of methylamine-based chemicals and feedstocks for the pharma and chemicals industries. Taminco supplies the rubber industry via its Water Treatment & Surfactants division. The diversified firms makes rubber accelerators; tetramethylthiuramdisulphide and zinc bis-Dimethyl dithiocarbamate. With operations in Ghent, Belgium; Leuna, Germany; and Shanghai, China, Taminco has around 500 employees and posted 2002 sales of $221.2 million.