Company News / Breaking News

Ciba Completes Sale of Polymers Unit

BASEL, Switzerland — Ciba Specialty Chemicals AG said it has completed the sale of its polymers business unit, a major supplier of epoxy resins, to Morgan Grenfell Private Equity for 1.6 billion Swiss francs ($947 million). Ciba said it sold the business as part of a strategy to concentrate on more profitable specialty chemicals. Morgan Grenfell Private Equity is a unit of Deutsche Bank.
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