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Ciba Forms Mideast Plastics Additive Joint Venture

10:52 AM MDT | September 8, 2008 | Kerri Walsh

Ciba Specialty Chemicals has signed an agreement to form a joint venture with masterbatch producer Astra Polymers (Al-Khobar, Saudi Arabia) to sell customer-specific antioxidant blends to resin makers in the Mideast. The jv will be called Ciba-Astra Additives Co., and Ciba will be the majority shareholder. The jv will begin to deliver products by the end of 2009, Ciba says. Financial terms of the deal were not disclosed. Cummins: Expanding regional position. The companies say they have also signed a letter of intent to study the feasibility of building an...

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