Ciba and Clariant sign agreement for Masterbatch business
Swiss Ciba Specialty Chemicals has signed an agreement to sell its Masterbatch business to Basel-based specialty chemicals company Clariant. The business reported sales of CHF80 million ($63.8 million), and operates in Malaysia, Saudi Arabia and France. Financial details of the transaction were not disclosed.
The deal is expected to complete in the fourth quarter of 2006, following the necessary regulatory approvals and all of the approximately 300 employees will transfer to Clariant.
Chairman of the board and CEO of Ciba Specialty Chemicals Armin Meyer said, “We have decided to divest the Masterbatch business as part of our strategic portfolio management, aiming to further strengthen our focus on the core businesses, Plastic Additives, Coating Effects and Water & Paper Treatment. Within the plastics market, we will continue to leverage our core competencies in the research, development, manufacturing and distribution of high performance additives and pigments."
A masterbatch is a customised blend of additives or pigments dispersed in customer specific resin and concentration intended for direct moulding or extrusion.
