IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Cytec closes sale of coating resins business to private equity firm

4:34 PM MDT | April 15, 2013 | —Vincent Valk

Cytec has closed the $1.15-billion sale of its coating resins business to private equity firm Advent International (New York). The deal, which was announced in October, completed a months-long divestiture process. “The sale of coating resins marks the completion of the transformation of Cytec’s portfolio and the beginning of a new Cytec,” says Cytec chairman and CEO Shane Fleming. “We are now able to focus on our growth platforms, comprised of advanced materials and separation technologies.” The coating resins business will take on a...

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