The president said he asked a unit of the Mumbai-based company "to pack and go" because it has been exporting soda ash rather than using it at local facilities to make glass and chemicals.
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
On the bourses, Tata Chemicals share price rose as much as 3.15 per cent to an intraday high of ₹931.50 per share.
The Q3FY25 results saw Tata Chemicals report a net loss of Rs 53 crore, from Rs 158 crore profit in Q3FY24
Centre said it shall impose a Minimum Import Price (MIP) of Rs 20,108 per tonne on Disodium Carbonate (Soda Ash) up to June 30, 2025
Shares of Tata Chemicals soared by 3.1 per cent at Rs 1,120 per share on the BSE in Tuesday's intraday trade
Soda ash, the company's largest business, suffered last year as falling caustic soda prices made it more appealing than soda ash for the silicate market, prompting it to cut prices to stay competitive
Analysts at Kotak Institutional Equities see this as an incremental negative for soda ash prices, though uncertainties remain around demand and supply and will need to be monitored
The management said the operating performance reflects higher volumes, realisations, and favorable market conditions.
The management said during the quarter, the company's profits was muted due to one off in US operations caused by Polar Vortex leading to sharp rise in gas prices.
Demand revival for soda ash and capacity expansion fuel optimism, say experts
The company will continue to grow new categories - pulses, spices and food