DÜSSELDORF, Germany - Degussa AG has signed an agreement to acquire Cytec Industries Inc.'s 50-percent holding in CYRO Industries, a joint venture established in 1976 between Degussa and Cytec. The sales price amounts to $95 million (74 million euros).

Degussa's methacrylate activities will be combined with CYRO's activities in the Americas following closing. The agreement includes four manufacturing facilities in Wallingford, Conn.; Fortier, La.; Osceola, Ark.; and Sanford, Maine; research and development assets; and sales and technical-service locations in North America. The business being acquired includes about 680 CYRO personnel.

Headquartered in Rockaway, N.J., CYRO is a joint partnership of Cytec Industries, West Paterson, N.J., and Degussa Corp., Parsippany, N.J. CYRO had sales of $317 million in 2004.