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Industry: Email Alert RSS FeedCLARIANT, CIBA SPECIALTY CHEMICALS AGREE TO MERGE--NEW COMPANY, TO BE CALLED CLARIANT, WILL BE WORLD'S LARGEST SPECIALTY CHEMICAL MAKER.
Daily News Record, November, 1998 by Clune, Ray
CHARLOTTE, N.C. -- Two of the largest specialty chemicals companies -- Clariant AG, Muttenz, Switzerland, and Ciba Specialty Chemicals AG, Basel, Switzerland -- have agreed to merge, creating the world's largest specialty chemicals producer.
The new company, which will have the Clariant name and the Ciba butterfly logo, would have annual sales in more than 120 countries of about $13 billion (about 18 billion Swiss francs). The definitive merger agreement is expected to be completed in December. The merger is subject to shareholder and regulatory approvals.
Rolf W. Schweizer, Clariant chairman and president, who is designated chairman/president of the new company, noted the merger is a major step in the ongoing consolidation of specialty chemicals...
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