Cytec Industries (NYSE: CYT) is a global specialty chemicals and materials company focused on developing, manufacturing and selling value-added products.
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. They are a leader in the amino resins used as crosslinkers for baked paints (i.e., product finishes) and creaseproofing resins for textiles.
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. New reports indicate Cytec is the world's second largest producer of carbon fiber products for composites used in aircraft.
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.