Cytec Gulf Coast Plants Restarting Operations.WEST PATERSON West Paterson (păt`ərsən), borough (1990 pop. 10,982), Passaic co., NE N.J., a suburb of Paterson; inc. 1914. Electric, electronic, and photographic products are made in the borough. , N.J. -- Cytec Industries Inc. (NYSE NYSE See: New York Stock Exchange :CYT) has resumed full operations at its Cytec Performance Specialties' facility in Mobile, Alabama. Earlier in the week, employees completed repairs resulting from wind damage from Hurricane Katrina. The Mobile plant is receiving raw materials and is shipping products to meet customer requirements. The Cytec Building Block Chemicals' Fortier plant, west of New Orleans, Louisiana, is engaged in an orderly restoration of operations as each unit is assessed for damage and repairs are completed. The plant, damaged by high winds from Hurricane Katrina, now has full and stable electrical power that has enabled repairs and a planned start-up sequence of the production units. The acrylamide acrylamide /acryl·a·mide/ (ah-kril´ah-mid) a vinyl monomer used in the production of polymers with many industrial and research uses; the monomeric form is a neurotoxin. unit restarted earlier this week and the acrylonitrile acrylonitrile /ac·ry·lo·ni·trile/ (ak?ri-lo-ni´tril) a colorless halogenated hydrocarbon used in the making of plastics and as a pesticide; its vapors are irritant to the respiratory tract and eyes, may cause systemic poisoning, and are , sulfuric acid sulfuric acid, chemical compound, H2SO4, colorless, odorless, extremely corrosive, oily liquid. It is sometimes called oil of vitriol. Concentrated Sulfuric Acid and melamine melamine (mĕl`əmēn'), common name for 2,4,6-triamino-1,3,5-triazine. Melamine is a trimer (see polymer) of cyanamide, H2NC≡N, and is synthesized from calcium carbide. units are expected to be back online in the next two weeks. Some telecommunications have been restored to the site. However, customer service coordination service coordination Case management, see there centers have been moved offsite to speed the response to customer inquiries until full communications are restored. Chairman, President and Chief Executive Officer David Lilley said, "At this time, we have been in contact with all of our employees at Mobile and almost all our employees at Fortier. We are grateful for their dedication during this difficult period and are hopeful that we'll know soon that everyone is safe and sound. In the interim, we will provide assistance to our colleagues as we recognize that many of their homes were damaged and need to be restored as quickly as possible." Force majeure [French, A superior or irresistible power.] An event that is a result of the elements of nature, as opposed to one caused by human behavior. The term force majeure on supply obligations was declared September 2, 2005, for acrylonitrile, aminonitrile and sulfuric acid manufactured at Fortier. This remains in effect and order controls have been activated to release available inventories. Melamine and acrylamide inventories are ample and are being shipped to all customers. Rail and road transportation is improving. However, longer lead times are required from customers to meet delivery schedules but Cytec expects to provide its customers with their full requirements. Throughout this period, all other Cytec plants continued to operate as planned as raw material stocks were adequate. "At this time we have not completed all the damage assessment and repair work related to Hurricane Katrina so we cannot quantify the financial impact," Lilley added. "We expect to provide this information in our third quarter earnings release." Forward-Looking and Cautionary Statements Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Achieving the results described in these statements involves a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in Cytec's filings with the Securities and Exchange Commission. Corporate Profile Cytec Industries Inc. is a specialty chemicals and materials technology company with pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Its growth strategies are based on developing technologically advanced customer solutions for global markets including aerospace, coatings, mining, plastics and water treatment. For more information about Cytec, go to www.cytec.com or contact us at 5 Garret Mountain Plaza, West Paterson, NJ 07424. |
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