Cytec Industries
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| Company type | Subsidiary |
|---|---|
| NYSE: CYT | |
| Industry | Chemicals, Materials, Aerospace, Automotive and Coatings |
| Founded | 1907 - American Cyanamid Company, 1993 - Cytec |
| Headquarters | Woodland Park, New Jersey, United States |
Area served | Worldwide |
Key people | Shane D. Flemming (President and CEO) |
| Revenue |  US$ 1.90 billion (2013)[1] |
Number of employees | 3,600+ (2012) |
| Subsidiaries | Cytec Engineered Materials |
| Website | http://www.cytec.com |
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 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]
References
[edit]- ^ "Solvay, an advanced materials and specialty chemicals company". Solvay.
- ^ "Cytec announces Middle Eastern aerospace collaboration". Plastics Today. 20 December 2013. Retrieved 19 November 2020.
- ^ "Belgium's Solvay to buy U.S. peer Cytec for $5.5 billion". Reuters. 29 July 2015 – via www.reuters.com.
- ^ "Cytec acquires stake in composites part manufacturer". Plastics Today. 25 November 2015. Retrieved 19 November 2020.
- ^ "Solvay successfully completes the acquisition of Cytec". Reuters. Archived from the original on 2016-03-05.
External links
[edit]- "CYTEC Industries". Retrieved 2005-12-21.
- "CYTEC Industries At A Glance". Archived from the original on 2013-12-10. Retrieved 2013-12-10.
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- Companies formerly listed on the New York Stock Exchange
- Chemical companies of the United States
- Companies based in Passaic County, New Jersey
- Woodland Park, New Jersey
- Companies based in Stamford, Connecticut
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