Tata Chemicals’ Haldia plant in West Bengal. Tata Chemicals says the divestment is in line with its strategic direction to focus on speciality chemical and food businesses, while maintaining leadership in inorganic chemicals. Mumbai: The board of Tata Chemicals Ltd has approved the sale of its non-bulk phosphatic business to IRC Agrochemicals for Rs375 crore, the company said on Monday,The transaction will involve sale of the fertilizer business, the assets attached to it as well as the company’s Haldia plant, Tata Chemicals said. “The company continues to move forward on its strategy to focus on speciality chemicals and consumer food business while maintaining leadership in inorganic chemicals business. Tata Chemicals, meanwhile, has been increasing investments and focus on its consumer business which includes Tata Salt, and spices and pulses under the Tata Sampann brand.

Source: Mint November 06, 2017 16:52 UTC