Nirma to buy US-based soda ash maker
New
Delhi,
Nov
27:
Detergent
maker
Nirma
Ltd
today
said
it
would
buy
US-based
soda
ash
maker,
Searless
Valley
Minerals
Operations
Inc
and
Searless
Valley
Minerals
Inc.
Nirma Ltd has entered into definitive agreement for the acquisition of Natural Soda Ash producer Searles Valley Minerals Operations Inc and Searles Valley Minerals Inc (collectively SVM), from an affiliate of Sun Capital Partners Inc and other minority shareholders for full ownership, a company statement said.
The definitive agreement for the acquisition among other things, is subject to customary regulatory clearances, the statement added.
SVM, a leading manufacturer of inorganic chemicals, is one of the five natural soda ash manufacturers in the US. SVM is the only US producer of soda ash, sodium borates, boric acid and sodium sulfate utilising the solution mining method.
SVM has three manufacturing facilities located at Argus, Trona and Westend, California.
UNI