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Tata Chemicals Europe Limited, a Tata Chemicals subsidiary, is fined £1.1 million by the UK's Chester Crown Court for a 2016 safety incident leading to a contractor's injury and subsequent death.
Tata Chemicals Europe Ltd, a subsidiary of Tata Chemicals Ltd, has been fined £1.1 million by the Chester Crown Court in the United Kingdom. The fine, ordered on June 5, 2024, stems from a safety incident dating back to 2016.
Explore : Tata Chemicals Ltd Share Price
The incident involved a contractor who sustained injuries at one of the company's UK sites in 2016. Tragically, the contractor passed away unexpectedly a few weeks after being discharged from the hospital.
Established in 1939, Tata Chemicals Ltd is a part of the Tata group. Its business segments include basic chemistry products, salt-making facilities, and speciality products. Post-demerger of its consumer product business in April 2019, Tata Chemicals focuses on its core operations.
Tata Chemicals Ltd reported a net loss of ₹841 crore in the January-March quarter of FY24. Earlier in March, Fitch Ratings revised the outlook on Tata Chemicals' long-term foreign-currency issuer default rating (IDR) to "stable" from "positive".
Tata Chemicals is the third-largest producer of soda ash globally, with a total annual capacity of 4.1 million tonnes. Two-thirds of this capacity is natural soda ash, ensuring efficient operations with lower costs. Additionally, it ranks sixth in sodium bicarbonate production worldwide.
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