Home / Knowledge / News / Textiles / US soda ash producer files for $115 million IPO
US soda ash producer files for $115 million IPO
22
Jul '13
Atlanta-based company OCI Resources LP, an affiliate of soda ash producer OCI Wyoming, has filed to raise US$115 million through an initial public offering (IPO), according to a Wall Street Journal report.
 
The newly launched company was formed to operate trona ore mining (a mix of sodium carbonate, sodium bicarbonate and water) and soda ash production business of OCI Wyoming. The company owns 50.5 percent stake in OCI Wyoming.
 
In textiles industry, soda ash is used in dyeing cotton and other cellulose fibers such as linen, rayon, tencel or hemp, to increase the pH (alkalinity) of the reaction. 
 
In the filing with the Securities and Exchange Commission (SEC), OCI Resources LP planned to enlist its shares in the New York Stock Exchange under the symbol OCIR.
 
OCI Wyoming, operating its facility at Green River basin since 50 years, is one of the world’s largest producers of soda ash. It operates a trona ore mining operation and soda ash refinery in Wyoming, US. 
 
In the year 2012, OCI Wyoming generated revenue of US$ 462.6 million with a net income of US$ 114 million.
 
As of March 31, 2013, OCI Wyoming has managed to acquire reserves of approximately 267.1 million short tons of trona which is equivalent to 145.5 million short tons of soda ash. 
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X