Tata Chemicals Subsidiary to Acquire Singapore-Based Novabay for EUR 25 Mn According to Tata Chemicals, the acquisition supports its plan to increase participation in higher value and less cyclical product segments.
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Tata Chemicals Limited has announced that its wholly owned subsidiary Tata Chemicals International Pte. Limited has entered into an agreement to acquire 100 percent equity in Novabay Pte. Limited of Singapore for EUR 25 million.
Novabay is a manufacturer of premium grade sodium bicarbonate and is among the larger producers in the Asia Pacific region excluding China. The company supplies specialized grades used in pharmaceutical, personal care and food applications. It operates a fully automated facility and holds certifications such as cGMP and API. Novabay currently has a production capacity of about 60000 tons, with scope to increase this to 100000 tons in the future.
According to Tata Chemicals, the acquisition supports its plan to increase participation in higher value and less cyclical product segments.
The premium sodium bicarbonate market is supported by steady demand from healthcare, personal care and food sectors. Factors such as rising haemodialysis needs, better access to medical treatment and growing consumption in emerging markets continue to influence demand trends.
