MERGERS & ACQUISITIONS

Tata Chemicals Acquires General Chemical Industrial Products

Tata Chemicals Ltd. (TCL; www. tatachemicals.com), India's leading manufacturer of inorganic chemicals, fertilizers and food additives, and part of the $28-billion Tata Group, has entered into a Si-billion agreement to acquire the

GCIP operates 2.5-millon ton/yr of soda ash capacity in Wyoming, a region that holds the world's largest reserve of raw ore. The acquisition of GCIP will lead to a sizeable increase in TCL's global soda ash capacity, making it one of the largest soda ash producers worldwide. The merger will give TCL access to markets in North America, Latin America and the Far East, which complement its existing markets.

Wacker Group Acquires Polymer joint Ventures

Wacker Chemie AG (www.wacker.com) has acquired full ownership of Air Products Polymers (APP) and Wacker Polymer Systems (WPS), its two joint ventures with Air Products and Chemicals, Inc. The transaction has been approved by European and U.S. antitrust authorities. Wacker's stake in APP had been 35%, with Air Products holding the remaining 65%; Wacker held 80% of WPS. and Air Products 20%. APP and WPS are expected to be fully integrated into the Wacker Group structures by year-end.

A leading supplier of dispersible polymer powders for construction applications. Wacker will take over vinyl acetate/ethylene operations from APP and WPS, including full ownership of the two companies' activities in Allentown. PA, Calvert City, KY, South Brunswick, NJ. Cologne and Burghausen, Germany, and Ulsan, South Korea. In return. Air Products is to receive production facilities at Elkton, MD. and Piedmont, SC, as well as related businesses and a payment of $265 million. The acquisition is expected to boost the Wacker Group's 2008 polymer business to about $1.45 billion.