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Cytec Industries

Cytec Industries (NYSE: CYT) is a global specialty chemicals and materials company focused on developing, manufacturing and selling value-added products. Cytec is headquartered in Woodland Park, NJ.

Website: http://www.cytec.com

Company Description

Cytec is the industrial chemical business of American Cyanamid spun off as Cyanamid entered into a series of mergers to become a pharmaceutical company.

Cytec is a major player in graphite composites of the kind being used in next generation aircraft as a strong, lightweight substitute for aluminum. News reports indicate Cytec is the world's second largest producer of carbon fiber products for composites used in aircraft.

Cytec a leader in the amino resins used as crosslinkers for baked paints (i.e., product finishes) and creaseproofing resins for textiles.

Mining chemicals include ore floatation reagents, solvent extractants for copper, nickel/cobalt, molybdenum, rare earths and uranium, flocculating agents, crystal growth modifiers, defoamers, and dispersants.

In 2012, Cytec announced the sale of its "coatings resins business" presumably meaning its Cymel amino resins crosslinking business to Advent International Corporation of Boston.

The company continues to trim its portfolio of lower margin commodities to focus on higher margin specialties. In addition to graphite composites, the company has recently invested in processing chemicals for the mining industry, most recently for copper.

In 2015, Solvay announced plans to acquire Cytec.

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