Nirma Indian detergent manufacturer plans buy FMC’s soda ash assets

Indian detergent manufacturer, Nirma plans to buy FMC’s soda ash assets

7:20 AM, 1st December 2014
Nirma Indian detergent manufacturer plans to buy FMC’s soda ash assets

AHMEDABAD, INDIA: Nirma, an Indian detergent manufacturer, is eyeing a big acquisition in the US Sources suggest that Nirma is in talks with New York Stock Exchange (NYSE) - listed FMC Corp for buying their soda ash assets worth $1.5 billion. FMC Corp has appointed Bank of America Merrill Lynch and Goldman Sachs for the sale process, a direct source in the US said.

Sources suggest that Nirma is keen on the buyout but may have to participate in an aggressive bid process if there is enough interest from global players to buy the soda ash assets of FMC Corp. As part of its global expansion strategy, Nirma had bought Searles Valley Minerals (SVM) in 2007 which has three soda ash manufacturing facilities in California.

According to an analyst, “the acquisition of FMC Corp’s assets will be a significant development for the soda ash industry and will ramp up Nirma’s soda ash capacity, which is a key ingredient for soap & detergent manufacturers.”

But the Industry experts also indicate, “a large deal worth $1.5 billion may be too large for Nirma to digest, especially, if there is a bid process.”


© The Economic Times News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Bus entirely powered by human, food waste hits roads in UK

LONDON, UK: The UK’s first bus powered entirely by human and food waste has gone into service between Bristol and Bath. Engineers believe the bu ...

Read more
Global Bioenergies produces bio-sourced butadiene by direct fermentation

EVRY, FRANCE: Global Bioenergies announced having succeeded in the production of bio-sourced butadiene by direct fermentation. It is the first time ev ...

Read more
3D printed object developed in space

WASHINGTON, US: The world’s first zero-gravity 3D printer on the International Space Station (ISS) has created the first object made using addit ...

Read more
Sika opens research facility in Preston, UK

BAAR, SWITZERLAND: Sika is expanding its research and development activities. The company has opened a state-of-the-art research facility in Preston i ...

Read more
Creating zero-carbon air conditioning which doesn’t need electricity

FRANKFURT, GERMANY: A surface that cools in direct sunlight without a power source has been demonstrated by US researchers. The team is now developing ...

Read more
Nuplex completes sale of specialties, masterbatch business in Australia, New Zealand

BOTANY, AUSTRALIA: Nuplex Industries has completed the sale of the Australian and New Zealand based Specialties and Masterbatch businesses. Nuplex ann ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X