Tata Chem sells urea business to Yara for Rs 2,670 cr
The Dollar Business Bureau Tata Chemicals Ltd, a Tata group company, has announced on Wednesday that it is selling its urea business to Norway's Yara International for Rs.2,670 crore ($400 million). Under the agreement, Tata Chemicals will sell its Barbala urea plant in the state of Uttar Pradesh, which has a yearly capacity of producing 0.7 million tonnes of ammonia and 1.2 million tonnes of urea. The deal is subject to regulatory clearance and is likely to be completed in the next 9-12 months’ time, and Yara International would fund this deal through its internal accrual. “The Board has approved transfer of the business of sale and distribution of urea and customised fertilisers, manufactured by the company at its plants located ...
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Aadhira Anandh M. | November 2015 Issue | The Dollar Business TDB: You joined Akar Tools as Financial Controller in 1994. How has the journey been so far? Sunil Todi (ST): I joined the company as a financial advisor in 1994, and since then the journey has not been very easy. I started taking up responsibilities as and when required by the company in all aspects. The areas under my leadership included business, marketing, production and administration. Getting the company to the position it is in today has been a very challenging task. TDB: You have been exporting highend, precision-engineered hand tools to Europe, US, Japan, Australia and other markets for years now. How different is the overseas market from the Indian market? ST: Marketing and ...
