Cytec stock splits.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)--June 20, 1996--Cytec Industries Inc. (NYSE NYSE See: New York Stock Exchange :CYT) announced that its board of directors has approved a three-for-one split of the company's common stock in the form of a stock dividend on the common stock. The stock dividend will be payable July 23, 1996 to stockholders of record as of the close of business July 2, 1996. As a result of the split the number of shares outstanding will triple to approximately 48 million. Darryl D. Fry, Chairman, President and Chief Executive Officer said, "The split is a tangible demonstration of the progress we have made since becoming a public company in December 1993, and demonstrates to our stockholders, employees and customers our confidence in our continued success for the future." Fry further commented, "At this time our performance indicators are looking positive both for the soon to be completed second quarter as well as all of 1996." 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. is a vertically integrated industrial chemical company which focuses on value-added specialty products. The company develops, manufactures and markets specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. , 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 Automotive Industries, Ltd. (Hebrew: תעשיות רכב נצרת עלית, תע"ר . CONTACT: Cytec Industries Inc., West Paterson Kumar Shah Shah is a Persian term for a monarch (ruler) that has been adopted in many other languages. This term is a Post Islamic Revolution term for monarchs in Iran which is replaced by valie faghih or Supreme Leader. (analyst) 201/357-3298 or George Yuro 201/357-3319 |
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