As We Go To Press
BASF makes offer to buy Ciba
BASF has unveiled plans to acquire
Ciba Holding AG, Basel/Switzerland,
a specialty chemical company, and
will make a public takeover offer to
Ciba’s shareholders. BASF will pay
approximately $50 in cash for each
share. BASF and Ciba have reached
a transaction agreement in which
the board of directors of Ciba supports BASF’s offer and recommends
its acceptance to Ciba’s shareholders. The offer corresponds to a premium of 32% above the closing price
for Ciba’s shares on September 12,
2008 and a premium of 60% above
the volume-weighted average share
price for Ciba shares in the 30 days
prior to announcement of the public
takeover offer. Based on all outstanding Ciba shares and including
all net financial liabilities and pension obligations, the enterprise value
would be approximately $6 billion. A
transaction agreement was signed
on September 14, 2008. BASF
expects to finalize the transaction in
the first quarter of 2009.
industries, textile and leather coatings and glass fiber sizing. The CAS
Business Unit has also invested
heavily in its Polymer Research &
Development Center in Shanghai to
provide analytical processes and
technical support.
lizing magnetically responsive technologies. The resilient floor coatings
business primarily serves industrial
manufacturers of polymeric and
wood flooring. Being subject to regulatory approval, the completion of
the transaction is expected by the
end of September 2008.
LORD CORP. SELLS RESILIENT
FLOOR COATINGS BUSINESS
Lord Corporation has sold its
resilient floor coatings business to
AkzoNobel. The privately-held com-
pany, headquartered in Cary/USA,
designs, manufactures and markets
devices and systems to manage
mechanical motion and control noise
and vibration; formulates, produces
and sells general purpose and spe-
cialty adhesives and coatings; and
develops products and systems uti-
BASF COATINGS AND
LE ORU FORM PARTNERSHIP
Industrial Coatings by BASF
Coatings is now providing a colored
protective finish for concrete mixers
owned by the Italian company Le
Officine Riunite—Udine Spa (Le
Oru), part of the Imer Group. BASF
Coatings is now supplying Le Oru
with a wide range of products, from
primers for corrosion protection to
waterborne topcoats. CW
Index to Companies
BAYER MATERIALSCIENCE
EXPANDS PUD PRODUCTION
Bayer MaterialScience has opened a
production plant at the integrated
production site in Shanghai to man-
ufacture polyurethane dispersions
(PUD). The plant has an annual
capacity of 20,000 metric tons. Bayer
MaterialScience now has facilities in
North America, Europe and Asia for
these key raw materials for manu-
facturing waterborne coating sys-
tems and adhesives. The products
form an important basis for manu-
facturing waterborne and thus low-
emission paints, coatings and adhe-
sives for a variety of applications.
These include metal, wood and plas-
tic coatings, adhesives for the
footwear, furniture and automotive
This index gives the starting page for a department or feature with
a significant reference to a manufacturer of paint, coatings, adhe-
sives and sealants. Subsidiaries are indexed under their own names.
AkzoNobel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10, 29
Anvil Paint & Coatings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
BASF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8, 10, 29
BioCoatings LLC .......................................... 22
Bollig & Kemper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Dunn-Edwards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Empils. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
H.B. Fuller ............................................... 10
Lord Corporation ...........................................8
Nippon Paint. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PPG. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10, 52
Scapa North America. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Sherwin-Williams. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
SpecialtyCoating Systems .................................. 22
