Ciba to sell masterbatch business
Ciba Specialty Chemicals is to sell its international masterbatch business to the Dutch investment company, Megides, and the United States company, Techmer.
Ciba, Switzerland's number two producer of specialty chemicals, gave no financial terms for the transaction, which depends on the fulfilment of closing conditions and approval from the regulatory authorities.
"The planned divestment of the masterbatch business will further strengthen Ciba's focus on its core businesses," said a company statement.
Megides, which specialises in compounds and additive concentrates for the European plastics industry, is buying Ciba's business in France, Italy, the Netherlands, Australia and New Zealand.
Techmer is acquiring Ciba's operations in Saudi Arabia and Malaysia.
Ciba's masterbatch business had 1999 sales of SFr100 million.
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