Tata Chemicals to acquire Allied Silica for 123 cr on a slump sale basis
Tata Chemicals entered into a business transfer agreement with Allied Silica to acquire their business of precipitated silica for ` 123 crore on a slump sale basis.

The acquisition is a part of the 295 crore investment approved by the Board during February 2017 towards this specialty business and the deal is expected to be closed within three months, Tata Chemicals said in a statement. R Mukundan, Managing Director, Tata Chemicals said, "This is in line with our focus to grow our specialty business, along with our consumer business".

The agreement also includes the acquisition of an existing manufacturing site in Tamil Nadu, which will produce highly dispersible silica (HDS).

Precipitated silica is a versatile product with applications in many industries, including rubber, oral care, coatings and agrochemicals, he said . "The acquisition also offers the possibility to make value added silica in the future for applications that demand high performance," Mukundan added.