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Cytec presents restructuring proposal for Botlek facility.

WEST PATERSON, N.J.--(BUSINESS WIRE)--Nov. 8, 1996--Cytec Industries Inc. (NYSE: CYT) announced that its Netherlands subsidiary, Cytec Industries BV, has presented to the Works Council and the unions representing its employees a proposal to restructure the Botlek, Netherlands plant.

The proposal is subject to negotiations with the Works Council and the unions, among other conditions.

Features of the proposed plan include a major re-engineering of the organization, relocation of certain manufacturing operations to other Cytec sites, a potential investment in a new polymer additives plant and staff reductions of up to 115 positions over a two year period, commencing with the implementation of the plan.

The Botlek plant manufactures a wide range of specialty chemicals. The total current staff level is approximately 360 positions.

Cytec Industries Inc. is a vertically integrated industrial chemical company which focuses on value-added specialty products. The company develops, manufactures and markets specialty chemicals, specialty materials and building block chemicals serving a broad group of end users, including the water treatment, paper, mining, coatings, plastics, aerospace, textile and automotive industries.

CONTACT: Cytec Industries, West Paterson

Kumar Shah (analyst contact)

201/357-3298

or

George Yuro, 201/357-3319
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 8, 1996
Words:192
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