WEST PATERSON, NJ - Cytec Industries Inc. announced agreements with Mitsui Chemicals Inc. in which Cytec will acquire 100% of the two companies' ownership interests in the Mitsui-Cytec Ltd. joint venture.

When completed, the transaction will give Cytec complete ownership of the joint venture's coatings-resins business, which includes a manufacturing facility in Shimonoseki, Japan. The transaction is subject to regulatory approvals; terms were not disclosed.