Cytec Receives Regulatory Approval to Market ECO2FUME Phosphine Fumigant for Non-Food Applications.Business Editors WEST PATERSON, N.J.--(BUSINESS WIRE)--Jan. 19, 2000 Cytec Industries Inc. (NYSE NYSE See: New York Stock Exchange :CYT) recently received regulatory approval from the U.S. EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. to market ECO2FUME(R) phosphine phosphine 1. PH3, a toxic war gas called hydrogen phosphide. 2. a coal tar dye; called Philadelphia yellow. fumigant fu·mi·gant n. A chemical compound used in its gaseous state as a disinfectant. for non-food applications such as tobacco and seeds. ECO2FUME is an environmentally friendly, non-flammable fumigant which can be easily applied to control insects in stored post-harvest commodities such as grains, fruits, nuts and tobacco. 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. of Cytec said that, "This approval continues our strategy of investing in the growth of our core technology businesses. Our direct participation in this attractive market segment through a distributor network will enable us to leverage our manufacturing position in phosphine technology and complement our global leadership positions in other phosphine-based specialty markets." Cytec acquired the core assets of BOC Gases' global phosphine fumigants business last August for approximately $3.5 million plus contingent payments. In addition to the current business, primarily in Australia, Cytec also acquired the world wide rights to BOC's ECO2FUME(R) trademark, other intellectual property, and existing and pending government regulatory registrations. Cytec Industries Inc. 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. Cytec's 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. For more information, contact Cytec Industries Inc., Five Garret Mountain Plaza, West Paterson, NJ 07424. (973) -357-3319. |
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