Cytec Industries Inc. Elects New Director.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.--(BUSINESS WIRE)--Oct. 14, 1999-- Cytec Industries Cytec Industries is a specialty chemicals and materials technology company with pro-forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Cytec is a result of its spin-off from American Cyanamid Company. Inc. (NYSE NYSE See: New York Stock Exchange :CYT) announced that, at the Company's Board of Directors meeting held today, John E. Akitt was elected to Cytec's Board of Directors for a term ending in the year 2000. Mr. Akitt is a retired Executive Vice President of Exxon Chemical Company and is a Director of Dofasco Inc., a steel company headquartered in Canada. David Lilley, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "John will be a significant addition to the Cytec Board of Directors. His broad operating experience in the chemical industry will be especially valuable as Cytec moves forward with its corporate growth plan." Company Profile Cytec Industries is a specialty chemicals and materials technology company with 1998 sales of $1.4 billion and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of of $2.68. Its growth strategies are based on developing technologically advanced customer solutions for global markets, including: aerospace, plastics, industrial coatings, mining, paper and water treatment. Cytec is in the S & P Mid-cap 400 index. |
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