Sisecam Acquires Ciner Group's Shares in U.S. Soda Ash Operations
Deal News | Dec 27, 2024 | Globenewswire
Sisecam has acquired all shares of its partner Ciner Group in U.S. soda ash operations, increasing its ownership in Pacific Soda LLC to 100% and its stake in Sisecam Wyoming LLC to 51%. This strategic acquisition is valued at $285.389 million. Upon completion of ongoing projects, Sisecam's global soda ash production capacity will exceed 10 million tons, positioning the company as a global leader in the industry. The acquisition highlights Sisecam's focus on sustainability, with natural soda ash being a key area due to its cost efficiency and reduced environmental impact. The demand for soda ash, essential for industries such as glass production, is expanding globally, driven by expectations of increased natural soda ash usage. Sisecam's CEO, Gorkem Elverici, indicates a broader strategy of utilizing soda ash in emerging sectors like energy storage. The journey in U.S. investment began in 2019, followed by strategic stake increases in key projects, now culminating in full control of Pacific Soda LLC.
Sectors
- Chemicals
- Sustainability
Geography
- United States – The acquisition involves companies and production facilities located in the United States, specifically within the soda ash industry.
- Turkey – Sisecam, the acquiring company, is a Turkish multinational operating in the glass and chemicals industries.
Industry
- Chemicals – The acquisition relates to the soda ash industry, which is part of the chemicals sector due to its use in glass production and other chemical applications.
- Sustainability – Sisecam's focus on natural soda ash with its lower environmental impact highlights the importance of sustainability within the industry.
Financials
- 285,389,000 USD – The purchase price Sisecam is paying to acquire Ciner Group's shares in U.S.-based soda ash operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sisecam | Acquirer | Company | A global player in the glass and chemicals industries, aiming to become a leader in the soda ash market. |
| Ciner Group | Seller | Company | Previously a partner involved in U.S. soda ash investments with Sisecam. |
| Pacific Soda LLC | Acquired Asset | Company | Manages a significant soda ash investment in the U.S., now fully owned by Sisecam. |
| Sisecam Wyoming LLC | Investment | Company | A facility in the U.S. with a large production capacity of natural soda ash where Sisecam has increased its ownership. |
| NRP Trona LLC | Partner | Company | Holds a 49% stake in Sisecam Wyoming LLC, involved in natural soda ash production. |
| Stockton Port Management | Logistics Partner | Company | Manages logistics related to the U.S. soda ash operations, in partnership with Sisecam and Ciner Group. |