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Cytec announces business segment realignment.

Cytec Industries Inc. has announced a change to it business segment reporting structure. Taking effect the first quarter of 2012, the move is intended to provide greater clarity on the new strategic direction of the company. In addition, the change aligns with the separation alternatives under consideration for the company's Coating Resins and Pressure Sensitive Adhesives segments. All product lines within the scope of the separation evaluation are now under common management and are grouped into one financial reporting segment.

As a result of the move, the Engineered Materials segment now includes only the Advanced Composites, Carbon Fiber, and Structural Film Adhesives product lines. The Pressure Sensitive Adhesives product line has been consolidated with the Coating Resins segment. The In-Process Separation segment, including the Mining Chemicals and Phosphines groups, remains unchanged. In addition, the Additive Technologies segment has been expanded to include the Formulated Resins product line. This segment previously was comprised of the Polymer Additives and Specialty Additives product lines.

According to Cytec, the Coating Resins segment includes the following: Radiation-Cured Resins (Radcure Resins), Liquid Coating Resins and Additives (including Waterborne Resins, Solventborne Resins, and Urethane Resins), Powder Coating Resins, Amino Crosslinkers, and Pressure Sensitive Adhesives. The Pressure Sensitive Adhesives and the Formulated Resins product lines were formerly included in the Engineered Materials Segment.

"The realignment of our reportable operating segments is consistent with our long-term view of the company and it will allow us to plan and execute on our strategy more effectively," commented Stane Fleming, Cytec's chairman, president, and CEO.
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Title Annotation:Business & Industry
Publication:JCT CoatingsTech
Date:May 1, 2012
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