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Cytec Launches Coating Resins Sale Process

11:40 AM MDT | June 1, 2012 | —Vincent Valk

Cytec has begun the official process for divesting its coating resins business, which had 29% of Cytec’s total sales in 2011. The company last year said that it was exploring the sale of coating resins. It has retained J.P. Morgan Securities (New York) to work on the deal. Cytec plans to complete the divestiture by the end of this year. The company has not commented on prospective buyers. “After extensive analysis, we determined that the sale of our coating resins business is our preferred alternative for separating the business,” says Cytec CEO...

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