Mergers Continue in Plastic Additives
Canadian Plastics
Probably the biggest news in additives in recent times was the proposed merger of the world's two largest specialty chemicals companies, Clariant AG and Ciba Specialty Chemicals AG, both based in Swit...
Probably the biggest news in additives in recent times was the proposed merger of the world’s two largest specialty chemicals companies, Clariant AG and Ciba Specialty Chemicals AG, both based in Switzerland. That deal, announced November 1998, was called off a month later after due diligence revealed substantial commercial, financial, legal and regulatory risks.
Another significant development was the May 1998 announcement by Witco Corporation, Greenwich, CT, and Ciba that they had completed the swap of Witco’s epoxy systems and adhesives business and Ciba’s PVC heat stabilizers businesses in a one-for-one transaction. Both businesses had 1997 sales of approximately $130 million (US funds).
The pace of mergers and acquisitions in plastic additives has slowed somewhat over the past year, but is still a significant factor in this industry. The following chart summarizes recent activity.
