CIBA CALLS OFF TALKS FOR M-SEAL BRAND WITH MAHINDRAS
Article Abstract:
Ciba Specialty Chemicals India Ltd (CSCIL) has decided to stop its negotiations with Mahindra Engineering and Chemical Products (MECP). The negotiations were for the acquisition of MECP's recognised adhesive brand, M-Seal. CSCIL's move follows the decision of Ciba to restructure its worldwide operations. Ciba will be taking decision on whether to retain or move out of the polymer business. Currently, CSCIL earns nearly 25 percent of its turnover of Rs312 crore from the polymer business. The negotiations with MECP was also facing problems on the pricing front. While MECP wanted Rs35 crore for the Rs18 crore brand, CSCIL was ready to offer only Rs25 crore for acquiring M-Seal. (ag)
Comment:
Ciba Specialty Chemicals India Ltd (CSCIL) has decided to stop its negotiations with Mahindra Engineering and Chemical Products (MECP).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CIBATUL, ATUL LTD MERGER MOVES BEGIN NEXT WEEK
Article Abstract:
The merger of Cibatul Ltd with Atul Ltd will come into effect from April 1, 1998. Atul Ltd will notify the Gujarat court of the merger. Cibatul is a joint venture of Atul Ltd and Ciba Speciality Chemicals (India) (CSCI). Cibatul Ltd became a 100 percent subsidiary of Atul Ltd after CSCI divested its 35 percent stake in Cibatul Ltd to Atul. However, the Cibatul name will continue till January 6, 1999. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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