Ciba Specialty Chemicals intends to sell masterbatch business
Ciba specialty chemicals has announced today that is has signed Letters of Intent with two different potential buyer companies for the sale of its masterbatch business.
Megides A.M.E. BV, a Dutch Investment company, engaged in masterbatch, compounds and additive concentrates for the plastic industry in Europe, intends to buy the masterbatch business located in France, Italy, Netherlands, Australia and New Zealand.
Techmer PM, a California Limited Partnership active in the field of global plastics masterbatch business, intends to buy the business located in Saudi Arabia and Malaysia.
The planned divestment of the masterbatch business will further strengthen Ciba’s focus on its core businesses. The transaction still depends on the negotiation and execution of definitive Sale and Purchase Agreements, fulfillment of closing conditions and obtaining any necessary regulatory approvals.
Ciba’s masterbatch business is managed by the Colors division as a sales and marketing business with production facilities in six countries. It generated sales of more than CHF 100 million in 1999 and employs about 400 employees.
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