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Ciba Completes Sale of Textile Effects Business to Huntsman

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Ciba Specialty Chemicals announced that the agreed sale of its Textile Effects business to Huntsman Corporation was completed at the end of June 2006.      The business, including its assets and liabilities, was sold for CHF 332 million ($266 million), consisting of cash and assumed debt. Approximately 4,000 employees of the Textile Effects business and support functions transferred to Huntsman. Ciba announced the agreement to sell this business to Huntsman on Feb. 20, 2006.      “We are pl...

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