Issue Date: May 21, 2012
Cytec To Sell Adhesives Unit
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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