Ciba Forms Mideast Plastic Additives JV

Ciba Specialty Chemicals has signed an agreement to form a joint venture with Astra Polymers to produce and sell customer-specific antioxidant blends to customers in the Mideast. The jv will be called Ciba-Astra Additives Company. The companies say they have also signed a letter of intent to study the feasibility of building an antioxidant plant in Saudi Arabia. Financial terms of the deal were not disclosed. Ciba announced its plans to form the jv earlier this month as part of its restructuring plan to focus on its coating, plastic additives, and water treatment...

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