BASEL, Switzerland - Swiss-based Ciba Specialty Chemicals has entered into a definitive agreement to sell its Textile Effects business to Huntsman Corp. for a consideration of CHF 332 million in cash and assumed debt. The divestment is expected to conclude in the third quarter of 2006.

The divestment supports Ciba's strategic intention to focus on the core businesses: Plastic Additives, Coating Effects, and Water & Paper Treatment. This includes expanding its leadership in the coatings industries.