Tata Chemicals to acquire majority satke in the UK''s Brunnner Mond
24 November 2005Tata Chemicals Ltd, India''s leading manufacturer of inorganic chemicals, has signed two separate agreements with UK-based company, Brunnner Mond Group Ltd, for acquiring a majority stake in it.
The company has not disclosed the cost of acquisition or other details as it said it is the process of finalising the deal. The decision is subject to certain terms and conditions and regulatory approvals. Tata Chemicals has informed the BSE that it had signed two separate agreements with the UK company and that investment would be made directly or through a subsidiary.
Brunner Mond is the second largest soda ash manufacturer in Europe and one of the top five producers globally. It has manufacturing plants in UK, Netherlands and Kenya. The group employs over 1,000 people and has a turnover of over $250 million.
Brunner Mond (UK) represents the Group''s business base in Europe. The UK operation, with two sites in the North West of England, together with the Company''s plant at Delfzijl in the North East of the Netherlands, serves customers throughout Europe and as far afield as South America and the Far East.