Cytec to explore alternative strategies for Aluminum Sulfate business.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)--May 13, 1996--Cytec Industries Inc. (NYSE NYSE See: New York Stock Exchange :CYT) announced today its decision to explore all strategic options available to enhance the value of its aluminum sulfate ("alum") business along with its kaolin kaolin (kā`əlĭn): see china clay. mining and calcining facility located in Andersonville, Ga. The strategic options, which include the possible sale of the businesses, are being evaluated with the assistance of Everen Securities Inc. Cytec is one of the leading producers of alum in North America with sales of approximately $20 million. Cytec's alum sales are concentrated in the southeastern region of the United States, where eight of the nine plants are located. Alum is used by paper mills to enhance paper quality and to increase the productivity of paper making machinery. Municipalities use alum to purify drinking and waste water. The kaolin mining and calcining facilities are located at Andersonville, Ga. The 160,000 tons per year plant currently supplies all the calcined kaolin required for the alum business. Cytec also owns over 1,200 acres of land with 30 million tons of reserves of kaolin, bauxitic baux·ite n. The principal ore of aluminum, composed mainly of hydrous aluminum oxides and aluminum hydroxides. [After Les Baux, a commune of southeast France. clay and bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. . The minerals are suitable for producing calcined kaolin for alum, high and low alumina refractories and paint fillers. Cytec Industries Inc. is a vertically integrated industrial chemical company which focuses on value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. 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, Inc. Kumar Shah, 201/357-3298 (analyst) George Yuro, 201/357-3319 |
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