Former Cytec Coating Resins Business Is Now Independent Company
BRUSSELS, Belgium – The coating resins business that was formerly part of Cytec Industries Inc. has become an independent company with the completion of the previously announced sale from Cytec to funds affiliated with Advent International, a global private equity firm. The coating resins business, which will adopt a new brand name in the coming months, is a leading producer of coating resins.
The new company is one of the largest producers in a $30 billion global market that is growing strongly, as end users seek cost-efficient and environmentally friendly technologies for their coating processes and individual applications.