Volume 93 Issue 31 | p. 8 | News of The Week
Issue Date: August 3, 2015 | Web Date: July 31, 2015

Belgium’s Solvay Acquires Cytec

Acquisition: Firm to pay $5.5 billion to become major supplier of composites for the transportation sector
Department: Business
Keywords: aerospace, composites, materials, acquisition

Making a push into advanced composites for the aerospace and automotive industries, the Belgian specialty chemical maker Solvay has agreed to acquire New Jersey-based Cytec Industries for $5.5 billion.

Solvay, which expects the deal to be finalized by year-end, will pay $75.25 per Cytec share, a premium of 28.9% over Cytec’s closing price on July 28, the day before the deal was announced.

Cytec has about $2 billion in annual sales, two-thirds of which come . . .

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