Tata Chemicals acquires US soda ash contracts worth over 500,000 tonnes ...Middle East

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Tata Chemicals acquires US soda ash contracts worth over 500,000 tonnes
source : Business Standard ( Middle East ) () 71
Tata Chemicals Ltd on Saturday said its wholly-owned US subsidiary, Tata Chemicals North America, has acquired North American soda ash customer contracts worth more than 5,00,000 metric tonnes for supply from September 2026 through December 2028. Tata Chemicals North America Inc (TCNA) entered into an Assignment and Assumption Agreement (ASA) with Searles Valley Minerals Inc (SVM) USA to acquire certain soda ash customer contracts and related commercial rights, Tata Chemicals Ltd (TCL) said in a statement. TCNA has been declared the successful bidder in the Chapter 11 bankruptcy proceedings of SVM USA. The transaction has been approved by the United States Bankruptcy Court for the District of Delaware with a cash consideration of USD 21.16 million and remains subject to customary closing conditions under the ASA. These contracts are expected to generate revenues of more than USD 110 million over the contract period. "This acquisition represents a strategic opportunity to strengthe

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