IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Coatings Divestment Possible, Cytec Says

9:45 AM MDT | March 28, 2011 | Rebecca Coons

Cytec will either fix or sell its coating resins business, company CEO Shane Fleming tells Deutsche Bank (New York) analyst David Begleiter. Cytec’s coating resins business posted 2010 net sales of $1.4 billion, 18% higher than 2009 and roughly half of the company’s total 2010 revenue. The business is challenged, however, because of the commoditization of solvents and radiation-cured monomers, tradenamed Radcure by Cytec. The coating resins business also includes powder coating resins and liquid coating resins. Cytec recently completed the sale of its...

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