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Business

Cytec, DSM end partnership

August 7, 2006 | APPEARED IN VOLUME 84, ISSUE 32

Cytec Industries and DSM have terminated their 50-50 manufacturing joint venture, American Melamine Industries (AMEL). They have also stopped all legal action between them relating to the joint venture. In February, DSM filed suit against Cytec, seeking to end the venture early. Cytec will assume 100% ownership of AMEL's assets and liabilities and will receive $7.4 million. The AMEL plant is operated by Cytec and is located within the firm's Fortier complex, outside New Orleans.

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