Cytec Industries

Cytec Industries Incorporated, based in Woodland Park, New Jersey was a speciality chemicals and materials technology company with pro-forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Cytec is a result of its spin-off from American Cyanamid Company. It makes resins, plastics, and composite materials, especially for the aerospace industry and other users of specialty materials. It was listed in NYSE with stock symbol "CYT".

Cytec Industries, Inc.
TypeSubsidiary
NYSE: CYT
IndustryChemicals, Materials, Aerospace, Automotive and Coatings
Founded1907 - American Cyanamid Company, 1993 - Cytec
Headquarters
Area served
Worldwide
Key people
Shane D. Flemming
(President and CEO)
RevenueIncrease US$ 1.90 billion (2013)[1]
Number of employees
3,600+ (2012)
SubsidiariesCytec Engineered Materials
Websitehttp://www.cytec.com

Cytec currently[when?] has about 3,600 employees in Europe, North and South America, Asia and Australia.

In December 2013, Cytec Industries has entered into a tactical partnership with Mubadala Development Company.[2]

In July 2015, Solvay announced its intent to acquire Cytec for a purchase price of US$5.5 billion.[3] In November 2015, Cytec Industries has obtain a shareholder's stake in Penso Holdings.[4] In December 2015, Solvay successfully completed its acquisition of Cytec. Financing consists of the issuance of around €4.7 billion senior and hybrid bonds and the ongoing €1.5 billion right issue.[5]

ReferencesEdit

  1. ^ "Solvay, an advanced materials and specialty chemicals company". Solvay.
  2. ^ "Cytec announces Middle Eastern aerospace collaboration". Plastics Today. 20 December 2013. Retrieved 19 November 2020.
  3. ^ "Belgium's Solvay to buy U.S. peer Cytec for $5.5 billion". 29 July 2015 – via www.reuters.com.
  4. ^ "Cytec acquires stake in composites part manufacturer". Plastics Today. 25 November 2015. Retrieved 19 November 2020.
  5. ^ "Solvay successfully completes the acquisition of Cytec". Archived from the original on 2016-03-05.

External linksEdit