Volume 90 Issue 16 | p. 22 | Concentrates
Issue Date: April 16, 2012

Cytec To Buy Umeco In Composites Push ...

Department: Business
Keywords: composites, aerospace, acquisition

Cytec Industries will acquire the British composites firm Umeco for about $439 million. With sales in its most recent fiscal year of $332 million, Umeco supplies advanced composites to the aerospace, defense, and industrial sectors. Cytec’s engineered materials business, which had sales last year of $908 million, is also a major composites supplier. CEO Shane Fleming says the purchase improves Cytec’s presence in the industrial sector, “where we see tremendous potential for significant value creation . . .

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