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 transaction includes all relevant assets and liabilities of the division, and is expected to be finalized in the third quarter of this year. Approximately 3,300 employees and 900 executives from the Textile and Dyeing Division will transition to Huntsman as part of the deal. Mai Yimin, Chairman and CEO of Ciba Specialty Chemicals, explained that in August 2005, the company’s board initiated a strategic review of the textile dyeing and dyeing department in response to industry trends. The goal was to identify a path that would ensure continued growth and improvement in the textile sector while aligning with the company’s broader objectives. “Divesting this business is the best decision,” he said. “It allows us to focus on our core areas—plastic additives, paint applications, water treatment, and paper chemicals. This move will strengthen our market position and enhance profitability.” The CEO added that the decision also takes into account the well-being of employees, ensuring a smooth transition and continued support for those affected. By streamlining operations and optimizing regional structures, Ciba aims to boost efficiency and performance in 2006. As one of the leading players in the global fine chemicals industry, Ciba supplies products used across multiple sectors, including textiles, plastics, inks, coatings, paper, automotive, construction, and personal care. In 2005, the company reported sales of 7.4 billion Swiss francs, with the textile dyeing division contributing 1.3 billion francs. Huntsman, a U.S.-listed chemical company, recorded sales of $11.5 billion in 2004 and employs around 11,300 people worldwide. Prior to this acquisition, Huntsman had already purchased the Vantico Group, which was previously part of Ciba Specialty Polymers. Known for its innovation in packaging and rapid expansion into petrochemicals, Huntsman operates in diverse fields such as plastics, automotive, aerospace, coatings, construction, textiles, and packaging.

Deep Wall Machine

Deep Wall Machine,Knife Wall Machine,Cement Mixing Rig,Mixing Rig

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