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Cytec Approves Share Repurchase

11:12 AM MST | December 19, 2007 | Chemical Week Editorial Staff

Drillock: Eyeing acquisitions. Cytec Industries says it has approved a $100 million share repurchase program, which represents about 3% of its equity market capitalization. “Our strong balance sheet and cash flow provide the financial flexibility to invest in our business, pay dividends,” and begin a new repurchase program, says David M. Drillock, v.p. and CFO. The repurchases will be made “from time to time on the open market or in private transactions,” Cytec says. Cytec says it recently completed a separate $100-million share...

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