Tata Chemicals buys General Chemical of US for 1 billion
Tata Chemicals has acquired US-based General Chem Industrial Products Inc for USD 1 billion, reports CNBC-TV18. Tata Chemicals has a soda ash capacity of 8,75000 tonnes per year. GCIP is a soda ash producer with a capacity of 2.5 mtpa. Meanwhile, Tata Chemicals has planned to increased its capacity to 1.2 million tonne per annum in the next two years.
This move will very well catapult Tata Chemicals to be the second largest soda ash manufacturer in the world. This is a privately held company wherein Harbinger Capital Fund holds majority stake of it.
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