Materials

Clariant, the Switzerland-based chemicals giant, is to buy another firm in an attempt to corner the market for colour and concentrates for plastic.

The deal for Ciba Speciality Chemicals’ masterbatches business is due for completion before the year’s end for an undisclosed sum.

The masterbatches business, with 300 staff and sites in France, Saudi Arabia and Malaysia, boasts annual sales of £34m (Chf 80m).

“This fits our strategy of expanding number-one market positions,” said Clariant chief executive Jan Secher.

“It gives us the chance to leverage our technological expertise to provide innovation.”

Clariant’s 22,500-strong workforce, on five continents, made £3.5bn sales last year. Clariant business divisions are: leather and paper chemicals, textiles, pigments and additives, functional chemicals, and life science chemicals and masterbatches.