Korea: Ciba Specialty Chemicals acquires stake in Daihan Swiss

Citation

(2005), "Korea: Ciba Specialty Chemicals acquires stake in Daihan Swiss", Pigment & Resin Technology, Vol. 34 No. 2. https://doi.org/10.1108/prt.2005.12934bab.022

Korea: Ciba Specialty Chemicals acquires stake in Daihan Swiss

Korea: Ciba Specialty Chemicals acquires stake in Daihan Swiss

Ciba Specialty Chemicals acquired the remaining 50 percent stake in the Daihan Swiss Chemical Corporation in Korea for a consideration of 28.5 billion Korean Won (EUR 20.6 million). The transaction gives Ciba 100 per cent of the equity and is expected to take effect before the year end. Daihan Swiss makes and markets pigments and preparations for the Korean coatings, plastics and inks markets, and exports products globally through Ciba Specialty Chemicals. It has 225 employees and a state-of- the-art research and development facility.

Increasing the stake to 100 percent ownership allows Ciba Specialty Chemicals to bring new and patented technology into the business and thereby open up direct access to one of the largest markets in Asia outside of Japan. It also allows for synergies to be realized in the Coating Effects business in Korea, and to build on Daihan Swiss' existing considerable market share in pigments.