BASF completes Ciba India acquisition

29 March 2010 12:42  [Source: ICIS news]

SINGAPORE (ICIS news)--BASF has completed its acquisition of specialty chemicals producer Ciba after India’s high court approved the merger of three Ciba group firms with BASF India, the company said on Monday.

The three firms involved in the merger are Ciba India, its wholly owned subsidiary Diamond Dye-Chem and Ciba Research (India) Private Ltd, BASF said in a statement on Monday.

 “We are convinced that the acquisition of Ciba is already helping our customers to be more successful, based on an innovative and comprehensive product portfolio," said Prasad Chandran, chairman of BASF in India and head of its south Asian operations.

Around 350 Ciba employees in India will be integrated into BASF by the end of April, the BASF statement said.

The merger follows the amalgamation of Switzerland’s Ciba Holdings with Germany’s BASF Specialty Chemicals Holdings in June last year.

The merger would strengthen the paper chemicals business of BASF India, the company said, adding that its research and development activities will now be housed at the former Ciba technical laboratory in Chandivali in Mumbai.

BASF group’s other companies in India include BASF Coatings, BASF Styrenics, BASF Construction Chemicals (India), BASF Catalyst India and BASF Asia Pacific (India).

For more on BASF visit ICIS company intelligence
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By: Nurluqman Suratman



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