Ciba sells Masterbatch business to Clariant

Resin supplier Ciba Specialty Chemicals is selling its Masterbatch business to specialty chemical company Clariant.
The divestment is expected to be concluded in the fourth quarter of 2006. The sale price was not disclosed.
All of Ciba’s approximately 300 Masterbatch employees, based in Malaysia, Saudi Arabia and France, will transfer to Clariant.
“We have decided to divest the Masterbatch business as part of our strategic portfolio management, aiming to further strengthen our focus on the core business, Plastic Additives, Coating Effects and Water & Paper Treatment,” Armin Meyer, chairman of the board and CEO of Ciba Specialty Chemicals, said. “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.”
Headquartered in Basel, Switzerland, Ciba Specialty Chemicals employs approximately 15,000 people at 69 sites in 22 countries and 15 research centers in 12 countries. The company’s Canadian headquarters are located in Mississauga, Ont.
Clariant, which is also based in Basel, operates over 100 group companies worldwide, employing approximately 23,000 people. Clariant’s Canadian Masterbatches division is located in Toronto.