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Brussels, 27 May 2004

Commission approves acquisition of Raisio Chemicals by Ciba Specialty Chemicals
The European Commission has granted clearance under the Merger Regulation to the proposed acquisition of Raisio Chemicals Oy, a Finnish company that makes chemicals for the paper industry, by Ciba Specialty Chemicals Holding Inc. The deal does not raise any competition concerns.

Ciba is a Swiss-based company active in five business areas: coating effects, home and personal care, plastic additives, textile effects and water and paper treatment.

Raisio makes mainly chemicals for the paper and board industry. It is based in Finland.

The Commission’s investigation has shown that the two companies’ operations are largely complementary with the exception of the market for processing aids in liquid/solid separation agents used to clean waste water and sizing agents used to modify the water resistance characteristics of paper .

However, even in this market the overlaps are minimal (below 1%) and do not lead to any appreciable changes in the competitive structure of the market, which is characterised by a number of alternative suppliers, including Stockhausen/Degussa, SNF, Kemira and 3F for liquid/solid separation agents, and BASF, EKA, Hercules, Kemira and Bayer for sizing agents.

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