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IMC: wins bid for Harris Chemical Group

5 February 1998: The American group IMC Global has won the bidding for Harris Chemical Group (HCG) with an offer of US$ 1.4 billion, including US$ 950 million in debt assumption.
Harris“s strong po…

5 February 1998: The American group IMC Global has won the bidding for Harris Chemical Group (HCG) with an offer of US$ 1.4 billion, including US$ 950 million in debt assumption. Harris“s strong position in industrial salt markets and IMC“s desire to establish a presence outside the US and Canada gave momentum to the deal. Other activities comprise soda ash, sodium bicarbonate and boron products. HCG has 13 million tons/y salt capacity in the US and Europe and it produces 2.8 million tonnes/y soda ash in the US, Europe and Australia. The deal is expected to be concluded in the first quarter of 1998.

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