Cytec Launches Coating Resins Sale Process

Cytec has launched a formal sale process for its coating resins business, its largest unit by sales. The company announced that it was exploring a sale of coating resins last fall. It has retained J.P. Morgan Securities (New York) to work on the deal. Cytec is aiming to complete the divestiture by the end of this year.   "After extensive analysis, we determined that the sale of our Coating Resins business is our preferred alternative for separating the business,” says Cytec CEO Shane Fleming.   Cytec’s coating resins business recorded...

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