Ciba assumes 100 percent ownership of Daihan joint-venture pigment business

Ciba assumes 100 percent ownership of Daihan joint- venture pigment business

Ciba Specialty Chemicals announced the acquisition of the remaining 50 percent stake in Daihan Swiss Chemical Corp. joint-venture business in Korea for 28.5 billion Korean won, or 30.5 million Swiss francs. The purchase gives Ciba Specialty Chemicals 100 percent of the equity in business, with completion of the transaction anticipated before the end of the year. Ciba has been a partner in the venture for 23 years.

Daihan Swiss is a supplier of pigments and preparations for the Korean coatings, plastics and ink markets, and exports products globally through Ciba Specialty Chemicals. Ciba Specialty Chemicals said the purchase enhances its ability to expand the business with new and patented technology that can be marketed to one of the largest markets in Asia outside of Japan.