Clariant said Wednesday it will buy Ciba Specialty Chemicals’ masterbatches business, with annual sales of $64.3 million.The transaction is expected to close by the end of the year.
Ciba’s masterbatches business has production facilities in France, Saudi Arabia and Malaysia, and its 300 employees will be transferred to Clariant. A masterbatch is a customized blend of additives or pigments dispersed in customer specific resin and concentration intended for direct molding or extrusion.
Clariant expects the sale to increase its presence in the Middle Eastern and Asia Pacific markets.
Clariant, headquartered in Switzerland, is a global leader in the field of specialty chemicals, with more than 100 group companies and approximately 23,000 employees.