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Cytec to cut jobs, restructure in industrial materials

4:54 PM MDT | August 12, 2013

Cytec on 31 July announced plans to cut 55 jobs and restructure logistics and planning functions in the company’s industrial materials division, which comprises the former Umeco. The company will also close a site at Beelitz, Germany, southwest of Berlin. The actions are in addition to a previously announced restructuring that will involve the closure of three sites in California by 2015. The newly announced restructuring in industrial materials should save the company $5.5 million/year starting in the second quarter of...

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