ALLENTOWN, Pa. and NEW HAMPTON, N.Y., Jan. 27, 2014 (GLOBE NEWSWIRE) -- Taminco Corporation (NYSE:TAM) and Balchem Corporation (Nasdaq:BCPC) have reached an agreement to build and operate a choline chloride facility in St. Gabriel, Louisiana, where both companies operate existing production facilities. Balchem will contribute its current St. Gabriel choline chloride production assets to the Joint Venture and both parties will invest into expanding these assets into a world scale production unit, which is expected to come on stream in 2015.
The Joint Venture will manufacture choline chloride. Balchem and Taminco will market the product through separate and fully independent channels. Both parties are very pleased with the joint production model as this will lead to a state-of-the-art unit, using the most advanced technology, generating advantages of scale and providing customers a high quality product and reliable supply chain at competitive cost.
This new capacity will help to serve the growing North American market, which is underpinned by increasing demand for choline chloride, a quaternary compound functioning as a clay stabilizer in oil and gas drilling and hydraulic fracturing applications. The safe and benign profile of choline chloride contributes to reducing the environmental footprint for oil and gas development projects. Choline Chloride is a trimethyl amine derivative, also widely used as a feed ingredient additive for a variety of animals.
About Balchem Corporation
Balchem consists of three business segments: ARC Specialty Products; Food, Pharma & Nutrition; and Animal Nutrition & Health. Through ARC Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries. The Food, Pharma & Nutrition segment provides proprietary microencapsulation solutions to a variety of applications in the human food, pharmaceutical and nutrition marketplaces. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets and certain derivative products into industrial applications.
About Taminco Corporation
Taminco is the world's largest integrated producer of alkylamines and alkylamine derivatives. Our products are used by customers in the manufacture of a diverse array of products for the agriculture, water treatment, personal & home care, animal nutrition and oil & gas end-markets. Our products provide these goods with a variety of ancillary characteristics required for optimal performance. We currently employ about 850 people and operate in 19 countries with seven production facilities in the US, Europe and Asia.
Forward-Looking Statements
This press release contains forward-looking statements relating to the expectations, plans or prospects for Balchem Corporation and Taminco Corporation and their subsidiaries, in relation to the potential for a successful development of the planned joint venture project discussed in this press release. These statements are based upon the current expectations and beliefs of the managements of Balchem and Taminco and are subject to many risks and uncertainties that could cause actual results to differ materially from the current plans or expectations described in the forward-looking statements, including the risks and uncertainties described in the companies' filings with the Securities and Exchange Commission.
CONTACT: Taminco USA:
Holly Bracken
Communication Coordinator
T: 610-336-2929
E: holly.bracken@taminco.com
Balchem Corporation:
Karin McCaffery
T: 845-326-5600
E: kmccaffery@balchem.com
