Witco Corporation and Ciba Specialty Chemicals Complete Business Swap

Witco Corporation and Ciba Specialty Chemicals Inc. this week announced that they have completed the swap of Witco's epoxy systems and adhesives business and Ciba's PVC heat stabilizers business. Both businesses had 1997 sales of approximately USD 130 million.

Witco has acquired Ciba's worldwide PVC heat stabilizers business and related assets, including those located in Lampertheim, Germany. The transaction includes the acquisition of Ciba's tin, mixed metal, non-metallic stabilizers, epoxy plasticizers, lubricants for PVC applications and other PVC stabilizers. The business is registered as Witco Vinyl Additives GmbH. The addition of Witco Vinyl Additives GmbH makes Witco the global leader in vinyl additives that are used primarily by the construction, automotive and packaging industries.

Ciba has acquired Witco's global epoxy systems and adhesives business and related assets in Bergkamen, Germany, with minor production facilities in Singapore and Italy. This business is based in Bergkamen and had been registered under the name of Witco Kunstharze GmbH. It is now registered as Ciba Specialty Chemicals Bergkamen GmbH.

For Ciba Specialty Chemicals, Lampertheim will remain a key production, development and marketing facility for the Additives Division and also the company's regional headquarters for Central Europe. Witco will continue to manufacture metal organics and tin intermediates at its Bergkamen plant where it is currently investing nearly $20 million to increase capacity and enhance production of these product lines.

Witco Corporation is a global manufacturer of specialty chemicals. The company has manufacturing and production facilities in 18 countries and approximately 6000 employees world-wide.

Ciba Specialty Chemicals is a global leader in the discovery, development and manufacture of innovative materials that provide color, performance and care for plastics, coatings, fibers, fabrics and other products and production processes. The six divisions include additives, consumer care, performance polymers, pigments, textile dyes and water treatments.