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Tata Chemicals on Friday said its Kenyan subsidiary is "fully compliant with the regulatory requirements" and has submitted all documentation sought by the government, pushing back after Kenyan President William Ruto ordered the Indian firm to leave the century-old Magadi soda ash operation it has run for two decades. In a statement to stock exchanges, the company said Tata Chemicals Magadi Ltd (TCML) had received the Ministry of Mining, Blue Economy and Maritime Affairs' suspension letter dated July 28 and, on August 11, submitted "all the required information, reports and documentation," and is now "awaiting the Ministry's review of our submissions and its further direction." "We respect the authority of the Government of Kenya and remain committed to constructive engagement through the appropriate legal and regulatory channels to resolve the outstanding matters," the company said, adding that its priority "continues to be the well-being of our employees, the Magadi community, our
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
Tata Chemicals on Monday reported an 81 per cent decline in consolidated net profit to Rs 60 crore for the quarter ended June on higher expenses. Its net profit stood at Rs 316 crore in the year-ago period. The company's total income rose to Rs 4,311 crore in the first quarter of this fiscal from Rs 3,815 crore in the corresponding period of the preceding year, according to a regulatory filing. Tata Chemicals, which is part of business conglomerate Tata Group, is a leading supplier to the glass, detergent, industrial and chemical sectors. The company has a strong presence in the crop protection business through its subsidiary company, Rallis India. Tata Chemicals has R&D facilities in Pune and Bangalore.