Cytec Completes Sale of CYRO Industries Joint Venture

03-Jun-2005

Cytec Industries Inc. announced that it has completed the sale of its 50% partnership in CYRO Industries to its joint venture partner Degussa Specialty Polymers, a company of Degussa AG, for cash consideration of $95 million, subject to closing adjustments.

This action is consistent with Cytec's plan to pay down additional debt after the recent acquisition of the Surface Specialties business from the Belgian-based UCB Group. In addition, it enables the Company to focus greater attention to core assets.

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