Swiss Ciba Specialty Chemicals has signed an agreement to sell its Masterbatch business to Basel-based specialty chemicals company Clariant. The sales price was not disclosed. The divestment is expected to be concluded in the fourth quarter of 2006 after the necessary regulatory approvals.

All of the approximately 300 employees will transfer to Clariant. The Ciba Masterbatch business, with sales of CHF80 million ($63.8 million), operates in Malaysia, Saudi Arabia and France.