Cytec Completes Sale of Bulk Molding Compounds Business

24 November 1998

Cytec Completes Sale of Bulk Molding Compounds Business

    WEST PATERSON, N.J.--Nov. 23, 1998--Cytec Industries Inc. announced today that it completed the sale of its bulk molding compounds business to Bulk Molding Compounds, Inc. of West Chicago, Illinois, for approximately $17 million in cash. The Harvest Group, Inc., served as financial advisor for Cytec in connection with the transaction.
    The business assumed by Bulk Molding Compounds, Inc. includes Cytec's manufacturing, laboratory and sales facility located at Perrysburg, Ohio, and approximately 95 employees at this facility and at a related sales office located in Southfield, Michigan.
    Cytec Industries Inc. is a vertically integrated specialty 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 aerospace, plastics, coatings, mining, paper, water treatment, and automotive industries.