Kolkata, May 10 (IANS) Tata Chemicals on Wednesday said it has signed a business transfer agreement with specialty inorganic materials producer Unnati Inorganics to acquire its undertaking of precipitated silica operation.
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"Tata Chemicals Ltd has signed a business transfer agreement with Unnati lnorganics Pvt Ltd to acquire their undertaking of precipitated silica operation, on a slump sale basis, for a consideration of Rs 34.20 crore," it said in a regulatory filing.
The agreement includes an existing manufacturing site at Dahej in Gujarat’s Bharuch district which will produce highly dispersible silica (HDS) after capability augmentation.
"This acquisition is a part of the Rs 295 crore investment approved by the board in February for this business," the chemicals manufacturer said.
This specialty chemical product represents a downstream value addition to company’s soda ash business, where it ranks among the top manufacturers globally. Precipitated silica is a versatile product with applications in many industries including rubber, coatings and agrochemicals.
The company said the technology for manufacturing HDS at Dahej facility had been developed at its lnnovation centre in Pune for which eight patents have been filed.
"This acquisition is another step in its journey to build technologically enabled, differentiated businesses, with greater customer centricity, by leveraging its core strengths," it added.