Tata Chemicals Limited (TCL) and Tata International Limited (TIL) entered into a Memorandum of Understanding, at Mumbai on 25 March 2005 at Bombay House. According to the MoU, TIL or its wholly owned subsidiaries - Tata South East Asia Limited (TSEA) / Tata West Asia Limited (TWA), shall sell to TCL the agreed raw Materials for Mithapur and Haldia on a principal-to-principal basis. The parties also entered into an agreement for the Overseas Marketing of the agreed products from Mithapur and Haldia.
Prasad Menon, MD, Tata Chemicals and S L Deoras, MD, Tata International, were present on the occasion and signed the MoU on behalf of the companies. The MoU comes into force with effect from April 1, 2005 and will be valid for three years with formal reviews at the end of the first and second year by the Steering Committee. The MoU can be terminated or extended by mutual agreement between both parties.http://tatawestside.com/tata_chemicals/releases/20050404.htm
