By Patrick Raleigh, ERJ On-line news editor
Basel, Switzerland-Ciba Specialty Chemicals is to acquire Raisio Chemicals from the Raisio Group of Finland for Euro475 million. The deal is due for completion by the third quarter of 2004, subject to regulatory approvals, the groups announced 19 March.
The acquisition combines two paper chemical businesses with strengths in different geographic and product markets.
Raisio Chemicals has strong market positions in Scandinavia, China and Russia, while Ciba’s main strengths are in NAFTA, Europe and Asia. The Finnish firm recently opened…