Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
March 19, 2004 12:00 AM

Ciba to add Raisio paper chemicals business

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    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 two facilities in China; a latex binders unit in Jiang Su and a speciality chemicals plant in Tianma, a Ciba statement also noted.

    Raisio Chemicals posted 2003 sales Euro422 million and employs around 1100. The firm supplies latex and starch binders and other polymer ingredients for paper and board, as well as hydrophobic sizing agents, de-inking chemicals and coating additives.

    Ciba's paper chemicals portfolio includes chemicals used in process and functional paper making applications, such as drainage and retention aids, fixatives, paper whiteners, paper coloration, coating additives, surface modifiers, barrier effects and sizing agents.

    The deal is expected to contribute to earnings within two years, said Ciba, which expects restructuring costs of around SF100 million related to the integration Raisio Chemicals.

    “Raisio Chemicals is a first-class strategic fit and a complementary expansion of our business. This move will create a top-tier player in the paper chemicals supply field, with a broader line of products and also a much wider geographic reach,” said Armin Meyer, Ciba's chairman and CEO, in a press statement.

    “By combining our strong R&D operations, near key European customers, we will be better positioned to meet their future needs, the Ciba boss added. Raisio Chemicals' Technology Campus in Turku, Finland, will be a key focus for the combined business he said.

    Ciba said it aims to further develop Raisio Chemicals' position in the Scandinavian market, by combining its product development, application technology and technical service operations in Finland. Key account management for Scandinavia as well as certain international management functions will also be based in Finland, the group added.

    Raisio Chemicals' paper latex assets were previously part of Latexia SA-a 50:50 global joint venture between Raisio Group and Rhodia SA formed in February 2000. Raisio Group acquired Rhodia's stake in Latexia SA as well as Rhodia's paper latex assets in France, Spain, Indonesia and Brazil, in August 2002 for Euro75 million. The Latexia JV had 2002 sales of about Euro200 million.

    RECOMMENDED FOR YOU
    German rubber industry to return to double-digit growth in 2021
    German rubber industry to return to double-digit growth in 2021
    Yokohama rings the changes with YX2023
    Yokohama rings the changes with YX2023
    Synthomer dismisses takeover reports
    Synthomer dismisses takeover reports
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac