Ciba Specialty Board reviews status of projects

Ciba Specialty Chemicals India Ltd has announced that the Board of Directors of the Company at its meeting held on March 09, 2007, has reviewed the status of projects for the manufacture of Specialty Effects Chemicals mainly for exports and for setting up of an Effluent Treatment Plant at Santa Monica Works, Goa. Preliminary work relating to these projects had commenced.

The Board while reviewing the project for manufacture of Specialty Effects Chemicals mainly for exports considered the information received from the Parent Company that process optimization and de-bottlenecking at the current manufacturing facilities has resulted in increased available manufacturing capacities which will satisfy demand for the product. Accordingly, the Board has concluded that there is no present justification for any further investment in these projects.

Source : Equity Bulls

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