Degussa Acquisition of CYRO Strengthens Its Specialty Polymers Business
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.