Ciba Specialty Chemicals Closes On the Sale of Shares in Hexcel.Business Editors BASEL, Switzerland--(BUSINESS WIRE)--Dec. 19, 2000 Ciba Specialty Chemicals “Ciba” redirects here. For the pre-1971 company, see Novartis. Ciba Specialty Chemicals is a chemical company based in and near Basel, Switzerland. It was formed as the non-pharmaceuticals elements of Novartis were spun out in 1997, following the merger in the announced today that it has closed on the sale of its approximately 14.5 million shares of Hexcel Corporation to an investor group led by Goldman Sachs. Ciba will continue to hold about 3.5 million shares of Hexcel, representing slightly less than 10% of the outstanding shares of the company. The total value of the sale is about $160 million. Ciba Specialty Chemicals (SWX SWX Swiss Exchange (trademark of SWX Swiss Exchange) SWX SolidWorks (3D solid modeling CAD software) SWX Splitter / Wave Division Multiplexer :CIBN, NYSE NYSE See: New York Stock Exchange : CSB CSB Kashubian (SIL code, Poland) CSB Chemical Safety and Hazard Investigation Board CSB Chemical Safety Board (Washington, DC) CSB Community Services Board CSB Computational Systems Bioinformatics ) is a leading company dedicated to producing high-value effects for its customers' products. Our specialty chemicals, added in small quantities, enhance the performance, look and feel of the final product. Business success is driven by our long-term strategy of innovation and continuous operational improvements. Ciba brings new and creative thought to the processes and products of our customers in more than 120 countries. Ciba's continuing operations generated sales of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 7.2 billion in 1999 and spent some CHF 250 million on R&D to foster innovation across the Company. |
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