More news
- Axalta releases Q1 2024 results
- PPG again earns EcoVadis gold rating for sustainability practices, ranking among top 7% of...
- Baikowski® France 2030 plan winner for its innovative project to decarbonise alumina prod...
- New CEO at BASF: Martin Brudermüller hands over to Markus Kamieth
- Wacker stays below prior-year figures amid lower selling prices in Q1
Cytec Industries Inc has announced a definitive agreement to divest its coating resins business to Advent International, a global private equity firm for US$1.032M plus assumed liabilities of US$118M bringing the total value to US$1,150M. The sale is expected to close in Q1, 2013.
"I am extremely pleased with the evolution of Cytec over the last 18 months and this transaction is another significant step in our portfolio transformation,” said Shane Fleming, Chairman, President and CEO of Cytec. Included in the transaction are the radiation-cured resins, liquid coating resins, powder coating resins and amino crosslinkers product lines.