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Swiss chemical company From Wikipedia, the free encyclopedia
Ciba was a chemical company based in and near Basel, Switzerland. "Ciba" stood for "Chemische Industrie Basel" (Chemical Industries Basel) and was formed when the non-pharmaceuticals elements of Novartis were spun out in 1997,[1] following the merger in the previous year of Ciba-Geigy and Sandoz that created Novartis.
| |
| Company type | Public limited company |
|---|---|
| Industry | Chemicals |
| Predecessors | Ciba-Geigy, Sandoz |
| Founded | 1997 as spin out of Novartis |
| Defunct | 15 September 2008 |
| Fate | Acquired by BASF |
| Successor | BASF Schweiz AG, Zurich |
| Headquarters | , Switzerland |
| Products | plastics, chemicals |
| Owner | BASF |
| Parent | BASF Performance Products Limited |
In 2008, Ciba was acquired by the German chemical company BASF[2] and, in April 2009, integrated into the BASF group.[3] Ciba AG initially continued to trade under the old name,[4] but was renamed to BASF Schweiz AG in March 2010.[5]
The BASF subsidiary makes products in the following areas: Agriculture, Automotive, Construction & Pipes, Electronic materials, Extractive & Process Technologies, Home & Fabric Care, Inks & Graphics, Lubricants, Monomers & Water Soluble Polymers, Packaging, Paints and Coatings, Paper, Personal Care, Photo & Digital Imaging, Plastics & Rubber, Textiles & Fibers, Water treatment.[6]
The company first came to life under the name "Gesellschaft fur Chemische Industrie", and eventually settled on an acronym of Chemische Industrie Basel sometime after 1920.[7]
Part of the merger agreement of 1997, between Ciba Geigy and Sandoz, was that the former's industrial chemicals business would be spun off as a separate business, leading to the formation of Ciba Specialty Chemicals plc.[citation needed]
In 2004, Ciba bought paper chemical manufacturer Raisio Chemicals from Raisio Group.[8] In 2006, Ciba divested its textile dyes and chemical auxiliaries business in a sale to Huntsman Corporation.[9]
In 2007, the company announced the intention to adopt the name Ciba Inc.
Ciba's board of directors agreed to a €3.4 billion takeover offer from BASF, the world's largest chemicals company, on 15 September 2008.[10]
In 2009, the parent company changed the name to BASF Performance Products Limited – BASF group.
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