Cytec Performance Specialties to Implement Surcharges; Energy and Transportation Surcharges on All Products to Take Effect Immediately.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 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 today the immediate implementation of global transportation and energy surcharges on all products produced by the Cytec Performance Specialties segment. These surcharges will affect products produced by the Mining Chemicals, Phosphines and Phosphorus phosphorus (fŏs`fərəs) [Gr.,=light-bearing], nonmetallic chemical element; symbol P; at. no. 15; at. wt. 30.97376; m.p. 44.1°C;; b.p. about 280°C;; sp. gr. 1.82 at 20°C;; valence −3, +3, or +5. Specialties, Polymer Additives, Specialty Additives and Water Treatment businesses. The transportation surcharge will be assessed at a rate of one to two cents per pound of product; the energy surcharge - which will vary from product to product - will be based on energy consumption during production. Shane Fleming, President of Cytec Performance Specialties, said, "In recent months, we have been affected by the unprecedented rise in cost for fuel oil and natural gas. We have chosen to institute surcharges to cover a portion of the increased costs that have been incurred by our businesses." Corporate Profile Cytec Industries 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. |
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