IHS Chemical Week

People & Business :: Earnings/Finance

Cytec completes share buyback

11:06 AM MDT | June 6, 2013 | Vincent Valk

Cytec today said it expects to complete its $650-million share buyback program funded with proceeds from the $1.15-billion coating resins divestiture by 11 June. It has launched a new, $200 million, buyback program that will expire in September. “The new Cytec business portfolio is predominately in growing markets with less demand volatility. It provides Cytec with an overall higher operating margin and we remain an excellent cash flow generator. With the Coatings separation process mostly behind us, mostly stable end markets and our positive outlook for...

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