Tata Chem in talks to buy Archean’s salt business
January 12, 2021
₹450-crore deal may offer reprieve to debt-laden diversified group
Tata Chemicals is in initial talks to acquire the troubled industrial salt unit of Archean Group in a deal that could value the business at ₹450 crore.
The potential deal could offer a reprieve to Chennai-based Archean, which has been struggling to service its debt obligations for the past two years, sources said. Founded in 1982, it has businesses spanning from industrial salt and fertilizers to mining.
Archean has an integrated manufacturing plant at Hajipir near the Rann of Kutch, Gujarat, with 3 million tonne of salt production capacity. The industrial salt is used as an intermediary in the manufacturing of detergents, textile dyes, plastic products and glass.