IHS Chemical Week

People & Business :: Companies

Taking Sides in Switzerland

2:11 PM MDT | September 15, 2008 | Robert Westervelt Robw@Chemweek.Com

Turmoil at Ciba Specialty Chemicals and Clariant, both based in Basel, Switzerland, underscore the pressures bearing down on certain sectors of the specialty chemical market. Clariant and its CEO Jan Secher announced plans to part ways earlier this month, and one vocal shareholder at Ciba is waging a very public campaign to oust chairman and former CEO Armin Meyer. Profitability at Ciba and Clariant has foundered during the past few years as both companies cope with challenges in sectors including paper chemicals, textile chemicals, and plastics additives. At...

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