NetComposites
Thermwood

Cytec Merges Divisions to Form Cytec Specialty Chemicals

04 November 2005

Cytec Industries is to combine its two specialty chemical divisions, Cytec Surface Specialties and Cytec Performance Specialties, into a new unit named Cytec Specialty Chemicals.

Cytec also announced that Shane Fleming, formerly President, Cytec Performance Specialties and a long time Cytec veteran has been named President of Cytec Specialty Chemicals and will relocate to Belgium.

David Lilley, Chairman, President and Chief Executive Officer commented, “These are very challenging times for the specialty chemicals industry. The Cytec chemicals businesses face significant challenges caused by weak economic conditions in Europe and North America, and already high raw material input and energy costs exacerbated by the impact of the recent hurricanes in the Gulf Coast of the United States. This requires us to ensure that our business costs are in line with the demand levels and that we continue to be prudent in our use of cash. As a company, we have faced these types of challenges before and have reacted positively by focusing on our customers, delivering superior products and applications technology and through our operational excellence initiatives acting in a cost effective manner.

“The new Cytec Specialty Chemicals organization will provide the base for a new level of business process improvements and cost efficiencies in such areas as manufacturing, procurement, supply chain and various other support functions. In addition, the new organization will also enhance our product line marketing and research focus at the customer, technology, sales and technical service level.

“Cytec Specialty Chemicals will be headquartered in Brussels, Belgium and will be made up of three business units as follows: Radcure and Powder Resins, Liquid Coating Resins and Performance Chemicals.





Share this story


Related / You might like...

ThermHex Presents New Sandwich Material to International Automotive Industry

ThermHex Waben presents its lightweight Organosandwich semi-finished product at the international specialist conference ‘Plastics in Automotive Engineering’ in Mannheim, Germany 3-4 April 2019.

Polyscope Polymers Wins JEC Innovation Award 2019 for Automotive Sunroof Thermoplastic Composite Guide Rails

Polyscope Polymers is this year’s winner of the JEC Innovation Award in the Automotive Application category.

A Revolutionary Change in Vehicle Panel Production Featuring SABIC’S UDMAX Thermoplastic Composite Tape

SABIC announced at JEC World 2019 a new, cutting-edge technology for producing lightweight, cost-effective and recyclable vehicle panels using its UDMAX tape, a unidirectional, fibre-reinforced thermoplastic composite.