Companies
Clariant to Buy Ciba Plastics Business
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Posted 04 October 2006 @ 09:32 am GMT
Clariant Ltd. said Wednesday it plans to buy Ciba Specialty Chemicals' plastics coloring unit for an undisclosed price to strengthen its color and additive concentrates business.
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The transaction is subject to approval of the relevant authorities and will probably be completed before the end of the year, the company said in a statement.
With production facilities in France, Saudi Arabia and Malaysia the plastics coloring business generates annual sales of about 80 million Swiss francs.
The acquisition will help Clariant boost its presence in the Middle Eastern and Asia Pacific markets.
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