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Wednesday, 18 September 2019
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Markets & companies, Raw materials market

Cytec begins the initial sale process for its coatings resins business

Thursday, 24 May 2012

Cytec's target is to complete a transaction of its coating resins business by the end of the year.

After an extensive analysis, Cytec determined that the sale of the coating resins business is the preferred alternative for separating the business. Source: SteeStealth – Fotolia.com
After an extensive analysis, Cytec determined that the sale of the coating resins business is the preferred alternative for separating the business...

Cytec Industries Inc. announced that it has initiated a formal sale process for its coating resins business. J.P. Morgan Securities LLC, the company's financial advisor, is assisting Cytec with the process. Cytec's target is to complete a transaction by the end of the year. Shane Fleming, Chairman, President and Chief Executive Officer, commented, "After extensive analysis, we determined that the sale of our Coating Resins business is our preferred alternative for separating the business”.

The coating resins segment includes the following product lines: radiation-cured resins (radcure resins), liquid coating resins and additives (including waterborne resins, solventborne resins, urethane resins and additives), powder coating resins and amino crosslinkers. The company does not intend to disclose developments regarding the Coating Resins sale process until a transaction is announced, which is estimated to occur later this year.

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