Why is Tata Chemicals looking to sell its soda ash unit in the US?

Tata Chemicals plans to hive off its US based soda ash business. Soda ash finds extensive applications in detergents, pharmaceuticals, glass, paper and in water treatment. Tata Chemicals is looking at a valuation of $1 billion or Rs.7,600 crore for the US Soda Ash plant, which is nearly 30% of its overall market at this point of time. Tata Chemicals is talking to private equity investors as well as strategic buyers for the proposed stake sale.