New Delhi: Tata Chemicals Ltd today said it has entered into definitive agreements to acquire a US-based chemical company, General Chemical Industrial Products Inc (GCIP), for $1,005 mn.

Harbinger Capital Partners is the majority owner of GCIP and the transaction is conditioned on the receipt of stockholder and other regulatory approvals, said Tata Chemicals in a statement.

GCIP is a significant Soda Ash producer in the USA with a capacity of 2.5 million TPA of Natural Soda Ash. GCIP has its manufacturing facilities located at Green River Basin in Wyoming, USA.

Source : UNI