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 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, (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 $21.16 million and remains subject to customary closing conditions under the ASA.
These contracts are expected to generate revenues of more than $110 million over the contract period.
“This acquisition represents a strategic opportunity to strengthen our presence in the North American soda ash market and expand our customer base. The acquired contracts secure over 5,00,000 tonnes of demand and are expected to generate revenues exceeding $110 million through December 2028,” TCL CEO and Managing Director R Mukundan said.
This transaction enhances the company’s portfolio of long-term customer relationships, improves demand visibility, and reinforces its commitment to delivering reliable supply and superior service, he added.
“It is aligned with our strategy of driving profitable growth and creating sustainable value for all stakeholders,” he said.