Tata Chemicals Ltd. (TCL) has declared that its totally-owned subsidiary, Tata Chemicals International Pte. Ltd. (TCIPL), has signed a Share Purchase Agreement (SPA) to get 100% equity shares of Novabay Pte. Ltd., a Singapore-based producer of top premium grade sodium bicarbonate, for Euro 25-mn.
Novabay is part of Humens Group, a French corporation specializing in specialty inorganic chemistry, born from a spin-off within the Seqens Group at the end of 2021. With manufacturing sites in eastern France (Novacarb and Novabion) and Singapore (Novabay), as well as international offices, Humens creates over €300-mn in annual revenue.
TCL stated Novabay’s target on premium-grade sodium bicarbonate integrates with its strategy to increase its presence in high-value, non-cyclical product segments.
Novabay is among the largest premium sodium bicarbonate manufacturers in the Asia-Pacific area (except for China), providing high-value grades for pharmaceutical, personal care, and food applications. The corporation holds main cGMP, API, and associated certifications, assisted by a fully automated facility. With a recent capacity of about 60,000 tons and capacity to expand to 100,000 tons, Novabay is properly-located for growth, TCL said in a press be note.
The premium-grade sodium bicarbonate market advantages from consistent demand in healthcare, personal care, and food sectors. Increasing haemodialysis needs, progressed access to medical care, and increasing consumption in arising markets drive this demand.
