Tata Chem arm to buy British Salt for £93 mn | business | Hindustan Times
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Tata Chem arm to buy British Salt for £93 mn

business Updated: Dec 20, 2010 21:15 IST
HT Correspondent

In a bid to strengthen its presence in the food and farm sector Tata Chemicals’ wholly owned subsidiary in the UK, Brunner Mond, has entered into an agreement to acquire 100% stake of British Salt for Rs 650 crore.

“The acquisition is in line with the strategy of Tata Chemicals to deepen its presence in the 'Food and Farm Sectors' and will result in securatising raw material for Brunner Mond operations,” said R Mukundan, managing director, Tata Chemicals, whose shares traded flat. “This will help Brunner Mond maintain its low cost manufacturing position in Europe and provides great opportunity to optimise the costs further. The combined entity will improve overall financial position of our European operations.”

British Salt is a leading manufacturer of pure dried vacuum salt products and enjoys 50% market share in the UK.