Ciba Specialty Chemicals

Ciba Specialty Chemicals
Company typePublic limited company
IndustryChemicals
PredecessorsCiba-Geigy, Sandoz
Founded1997 as spin out of Novartis
Defunct15 September 2008
FateAcquired by BASF
SuccessorBASF Schweiz AG, Zurich
Headquarters
Basel
,
Switzerland
Productsplastics, chemicals
OwnerBASF
ParentBASF Performance Products Limited

Ciba was a chemical company based in and near Basel, Switzerland. "Ciba" stood for "Chemische Industrie Basel" (Chemical Industries Basel) and was formed when the non-pharmaceuticals elements of Novartis were spun out in 1997,[1] following the merger in the previous year of Ciba-Geigy and Sandoz that created Novartis.

In 2008, Ciba was acquired by the German chemical company BASF[2] and, in April 2009, integrated into the BASF group.[3] Ciba AG initially continued to trade under the old name,[4] but was renamed to BASF Schweiz AG in March 2010.[5]

The BASF subsidiary makes products in the following areas: Agriculture, Automotive, Construction & Pipes, Electronic materials, Extractive & Process Technologies, Home & Fabric Care, Inks & Graphics, Lubricants, Monomers & Water Soluble Polymers, Packaging, Paints and Coatings, Paper, Personal Care, Photo & Digital Imaging, Plastics & Rubber, Textiles & Fibers, Water treatment.[6]

History

The company first came to life under the name "Gesellschaft fur Chemische Industrie", and eventually settled on an acronym of Chemische Industrie Basel sometime after 1920.[7]

Part of the merger agreement of 1997, between Ciba Geigy and Sandoz, was that the former's industrial chemicals business would be spun off as a separate business, leading to the formation of Ciba Specialty Chemicals plc.[citation needed]

In 2004, Ciba bought paper chemical manufacturer Raisio Chemicals from Raisio Group.[8] In 2006, Ciba divested its textile dyes and chemical auxiliaries business in a sale to Huntsman Corporation.[9]

In 2007, the company announced the intention to adopt the name Ciba Inc.

Ciba's board of directors agreed to a €3.4 billion takeover offer from BASF, the world's largest chemicals company, on 15 September 2008.[10]

In 2009, the parent company changed the name to BASF Performance Products Limited – BASF group.

References

  1. ^ Journal, Margaret StuderSpecial to The Wall Street. "Ciba Specialty Chemicals' Value Put at $4.23 Billion for Sell-Off". WSJ. Retrieved 2023-05-10.
  2. ^ Medienmitteilung von BASF vom 20. November 2008: „Definitives Endergebnis für Ciba-Angebot beträgt 94,59 Prozent“[permanent dead link‍]
  3. ^ Medienmitteilung von Ciba und BASF vom 9. April 2009
  4. ^ Welcome to Ciba
  5. ^ Eine Marke verschwindet: Die Ciba heisst nun BASF Schweiz AG. Archived 2016-04-27 at the Wayback Machine In: Basler Zeitung, 1. März 2010
  6. ^ "Ciba Product Finder - Search". 2004-12-11. Archived from the original on 2004-12-11. Retrieved 2023-01-20.
  7. ^ Prelog, Vladimir; Jeger, Oskar (1980). "Leopold Ruzicka (13 September 1887 – 26 September 1976)". Biogr. Mem. Fellows R. Soc. 26: 411–501. doi:10.1098/rsbm.1980.0013.
  8. ^ "Ciba Specialty Chemical acquires Raisio Chemicals". Interempresas. Retrieved 2023-01-20.
  9. ^ "Huntsman Completes Purchase of Ciba Specialty Chemicals' Textile Effects Business". Huntsman Corporation. Retrieved 2023-01-20.
  10. ^ Kuehnen, Eva (15 September 2008). "BASF bids $3 bln for Switzerland's Ciba". Reuters. Archived from the original on July 17, 2012. Retrieved 2008-09-15.