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Regions :: Western Europe :: Switzerland
BASF Completes Ciba Acquisition
12:56 PM MDT | April 10, 2009
BASF completed the $2.9-billion acquisition of Ciba Specialty Chemicals on April 9. The merged company has pro forma sales of almost €62 billion/year ($82 billion), as well as 160 major sites and 108,000 employees. The deal makes BASF a market leader in plastics additives, and the second-largest producer of coatings effects such as pigments and resins, as well as the leader in paper chemicals (CW, Sept. 22, 2008, p. 6). BASF received conditional approval of the deal by the European Commission in March and by the U.S. FTC earlier this month. The...
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