Ciba Specialty Chemicals recently announced that it has entered into a definitive agreement with Huntsman Corporation to sell its textile dyeing business for 332 million Swiss francs. The deal includes all the assets and liabilities of the division, and the transaction is expected to be completed in the third quarter of this year. Approximately 3,300 employees and 900 executives from the Textile and Dyeing Division will be transferred to Huntsman as part of the acquisition. Mai Yimin, Chairman and CEO of Ciba Specialty Chemicals, explained that in August 2005, the company’s board decided to review the strategic direction of the textile dyeing and dyeing department, aiming to identify the best path forward for the business. “After careful consideration, we determined that divesting the textile dyeing business is the optimal choice,” he said. “This move will allow us to focus on our core areas — plastic additives, paint applications, water treatment, and paper chemicals — strengthening our leadership in the plastics and coatings industry, enhancing our position in the water treatment and paper chemicals markets, and ultimately improving overall profitability.” The decision also reflects Ciba’s broader strategy to streamline operations and optimize its organizational and regional structures, with the goal of achieving stronger performance in 2006. By narrowing its focus, the company aims to boost efficiency and better align its resources with high-growth sectors. Ciba Specialty Chemicals is a global leader in fine chemicals, with products used across multiple industries, including textiles, plastics, inks, coatings, paper, automotive, construction, and personal care. In 2005, the company generated sales of 7.4 billion Swiss francs, with the textile dyeing division contributing around 1.3 billion Swiss francs. Huntsman, a U.S.-listed chemical company, reported sales of $11.5 billion in 2004 and employs approximately 11,300 people worldwide. Prior to this acquisition, Huntsman had already expanded its portfolio by acquiring the Vantico Group, which was previously part of Ciba Specialty Polymers. Known for its innovation in packaging and rapid growth in petrochemicals, Huntsman operates in diverse sectors such as plastics, automotive, aerospace, coatings, construction, textiles, and packaging. This acquisition further strengthens its presence in the specialty chemicals market.

Cutter Soil Mixing Machine

Cutter Soil Mixing Machine,Powerful Drilling Rig Pipes,Concrete Mixing Rig,Double Wheel Stirring Drill

Xuzhou Jingan Heavy Industry Manufacture Co.,Ltd. , https://www.jinganzhonggong.com