Sale of Building Block Chemicals agreed

摘要

Cytec Industries has agreed to sell its Building Block Chemicals business to a private equity firm for $180 million. The sale to an affiliate of HIG Capital will allow Cytec to put more attention and resources into its core growth platforms of Engineered Materials, In Process Separations, and Waterborne and Radcure Coating Resins, said Cytec's chairman, president and chief executive, Shane Fleming. Cytec will be able to focus on organic growth and to pursue potential bolt-on acquisitions, said Fleming.