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.