Tata Chemicals Limited (TCL) announced that its wholly owned subsidiary, Tata Chemicals North America Inc. (TCNA), has been declared the successful bidder in the Chapter 11 bankruptcy proceedings of Searles Valley Minerals Inc. (SVM), USA.
Under the transaction, TCNA will acquire North American soda ash customer contracts covering more than 500,000 metric tonnes, with deliveries scheduled from September 2026 through December 2028. The contracts are expected to generate revenues of more than USD 110 million over the contract period.
The acquisition will strengthen TCNA’s position in the North American soda ash market by expanding its domestic customer base and deepening long-term customer relationships. It is also expected to provide greater demand visibility, support customer retention and contribute to sustainable value creation.
TCNA has entered into an Assignment and Assumption Agreement (ASA) with SVM for the acquisition of certain soda ash customer contracts and related commercial rights. The transaction has been approved by the United States Bankruptcy Court for the District of Delaware. The cash consideration for the transaction is USD 21.16 million, subject to customary closing conditions under the ASA.
Mr. R. Mukundan, CEO & Managing Director, Tata Chemicals Limited, said: “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 500,000 metric tonnes of demand and are expected to generate revenues exceeding USD 110 million through December 2028. The transaction enhances our portfolio of long-term customer relationships, improves demand visibility, and reinforces our commitment to delivering reliable supply and superior service. It is aligned with our strategy of driving profitable growth and creating sustainable value for all stakeholders.”
