18 June 2018
DETAILS
Tata Chemicals announced completion of acquisition
of the Silica business from Allied Silica.
Earlier this year, the Company had entered into
a Business Transfer Agreement
with Allied Silica Limited
to acquire their business of precipitated silica
for a consideration of up to ? 123 crores, on a slump sale basis.
This acquisition is a part of the Rs. 295 crore investment
approved by the Board during Feb 2017,
towards this specialty business.
This agreement includes the acquisition of
an existing manufacturing site in Tamil Nadu,
which will produce Highly Dispersible Silica (HDS).
The specialty chemical product represents
a downstream value addition
to Tata Chemicals soda ash business,
where it ranks among the top manufacturers globally.
Precipitated silica is a versatile product with applications
in many industries including
rubber, oral care, coatings and agrochemicals.
The acquisition also offers the possibility
to make value added silica in the future
for applications that demand high performance.
The technology for manufacturing HDS,
for which eight patents have already been filed,
has been developed at the Company’s Innovation Centre in Pune.
Mr R Mukundan,
Managing Director, Tata Chemicals
‘In line with our strategy to grow our specialty business,
we are pleased to announce the successful completion
of the transaction with Allied Silica.
Our immediate focus is to enhance
the site’s operational readiness to maximize throughput
of the existing product portfolio
while meeting requisite safety and quality specifications,
and we aim to upgrade the unit by the second quarter FY19.
In parallel, we intend to accelerate the business development
and commercial production of the specialty grades of
Highly Dispersible Silica (HDS)
developed by our Innovation Centre in Pune.”
For more information please contact:
R Nanda | Keya Muriya
Tata Chemicals Ltd.
Tel: +91 22 66657860 |+ 91 9819635036
Email: rnanda@tatachemicals.com / kmuriya@tatachemicals.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
