Ciba and Clariant sign agreement for Masterbatch business
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."
