Ciba Specialty Chemicals Completes Purchase of Segment of Cytec's Paper Chemicals Business.Business Editors BASEL, Switzerland--(BUSINESS WIRE)--Nov. 1, 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 today announced that it has completed the purchase of the retention, drainage and fixative fixative /fix·a·tive/ (fik´sit-iv) an agent used in preserving a histological or pathological specimen so as to maintain the normal structure of its constituent elements. fix·a·tive adj. paper chemicals business of Cytec Industries for approximately $23 million in cash. The acquisition of these complementary product lines will significantly strengthen Ciba's offering to the paper industry. With the transfer of the product lines to Ciba, all existing direct sales customers will be contacted by Ciba personnel. Preparations carried out over the past month will ensure that the products are transferred smoothly maintaining the high quality of service and reliability. The deal includes existing products sold under the Polyflex(R), Accurac(R), Cydrain(R), and Cypro(R), tradenames and related Polyflex(R) patents and technologies in most of the world. Polyflex is a patented, polymer based microparticle retention and drainage system used in the production of pulp, paper, laminates, and paperboard. Polyflex is particularly effective for the production of quality paper for ink jet applications and the production of higher filler paper grades. The deal is subject to existing commitments of Cytec to third parties. Ciba Specialty Chemicals provides chemicals, instrumentation and service to the paper making industry, enhancing process efficiencies in papermaking and improving the appearance and performance of the final product. Ciba's offering to the paper industry includes: papermaking aids, sizing and finishing products and high-quality whiteners and paper colorants, and includes the trademarks: Ciba(R) HYDROCOL(R), Ciba(R) PARTICOL(R), Ciba(R) PERCOL(R), Ciba(R) ALCOFIX(R) ,Ciba(R) TINOPAL(R), Ciba(R) ALCOPROOF(R), Ciba(R) PERGASOL(R), Ciba(R) IMPRINT(R), and Ciba(R) LODYNE(R). 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 continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the 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. Ciba spent some CHF 250 million on R&D to foster innovation across the Company. |
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