Soda ash producer OCI Resources files for an IPO

12:43 PM | July 9, 2013 | Natasha Alperowicz

OCI Resources, a newly launched affiliate of soda ash producer OCI Wyoming, on Monday filed with the SEC to raise up to $115 million in an initial public offering. OCI Wyoming is a subsidiary of OCI . (Seoul), the world’s fifth-largest producer of soda ash. OCI Resources operates trona ore mining facilities and a soda ash production complex at Green River, WY. The company plans to list on the New York Stock Exchange under OCIR. Citi and Goldman Sachs are the joint bookrunners on the deal. The company is the fourth-largest producer of soda ash in North America.

In the year ended 31 December 2012, before the noncontrolling interest, the company’s pro forma total net sales, net income, and adjusted Ebitda were approximately $462.6 million, $114.1 million, and $142.5 million, respectively.

Do not miss the IHS The World Soda Ash Business Outlook  a special one-day briefing by IHS and industry experts on the state of the industry and the impact of several rapid changes taking place in the market.

The global soda ash industry is evolving as capacity closures and new production tips demand-supply balances around the world. Steep rises in energy and raw material costs, as well as intensifying competition from natural soda ash producers have prompted synthetic soda ash producers to shut capacity,  while natural soda ash production is undergoing expansion due to favorable production costs. This will have implications for the regional demand-supply outlook, trade flows and strategies for the soda ash industry.