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Business

Cytec To Sell Adhesives Unit

by Alexander H. Tullo
May 21, 2012 | A version of this story appeared in Volume 90, Issue 21
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Credit: Henkel
This foam tape is made with pressure-sensitive adhesive.
A roll of beige tape with red backing sits on a mottled mirror surface, at the end of the roll, the backing is peeled away to display the tape.
Credit: Henkel
This foam tape is made with pressure-sensitive adhesive.

Cytec Industries has agreed to sell its pressure-sensitive adhesives unit to Germany’s Henkel for $105 million. The business makes emulsion, solvent-borne, and UV-curable pressure-sensitive adhesives, which are used in applications such as tapes and labels. The unit, which employs 80 people, had sales of $94 million in 2011. The sale is part of a Cytec initiative to focus on faster-growing businesses. CEO Shane Fleming says Cytec is still evaluating the sale of its coatings resins business and will make a decision during this quarter.

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