Following the closure of the deal last week BASF has begun the process of incorporating Ciba into the company, making key appointments and defining the integration strategy.
Michael Heinz from BASF has been appointed CEO of Ciba and will be responsible for the integration of the company and another BASF executive Hans-Juergen Seeger will take over as chief financial officer.
Meanwhile former Ciba head Brendon Cummins will step down and move into an advisory role for the next few months.
With the new management team in place the integration process will begin with a “discovery phase” during which joint teams from Ciba and BASF will analyze the acquired businesses in depth.
The goal of this stage is to determine the best organizational structure for the Ciba businesses within BASF. The actual integration of the two companies will then start in July 2009 on the basis of these results.
To gain approval for the €3.8bn deal from the competition authorities on both sides of the Atlantic BASF has had to agree to share technologies and shed businesses and product lines.
The European Commission asked BASF to remedy concerns related to the paper, dyestuffs, plastics and skin care sectors.
To ease competition concerns in the skin care market BASF promised to conclude a UV Filter License Agreement to give third party access to the technology behind Tinosorb S (a UV filter patented and currently produced solely by Ciba).
Competition authorities in the US also imposed conditions on the deal. BASF only obtained clearance after agreeing to sell its global yellow and blue pigments within six months.