11 maj: DATA SNAP:US April Producer Prices Fall As Energy Costs Slide
11 maj: DATA SNAP: Canada April Jobs Creation Beats Forecasts
11-05-2012 14:53:00

Cytec To Sell Adhesives Line To Henkel For $105 Million

Relateret indhold

DOW JONES NEWSWIRES

Cytec Industries Inc. (CYT) has agreed to sell its pressure-sensitive adhesives product line to German glue producer Henkel AG (HENKY, HEN3.XE, HEN.XE) for about $105 million in cash as the company shifts its business focus.

The deal comes as the specialty chemicals and materials company has sought to reduce its exposure to more cyclical markets. Cytec sold its building block chemicals business last year, and it recently agreed to acquire Umeco PLC (UMC.LN) to expand its presence in aerospace and industrial applications. It is also considering spinning off its remaining coating resins business and expects to announce a decision this quarter.

"This transaction is another important step in our portfolio transformation as we seek to drive a greater amount of organic and inorganic growth from our specialty growth platforms," said Chief Executive Shane Fleming.

The sale to Henkel includes a variety of adhesives used in labels, tapes, graphics and medical applications. Henkel, which makes household and beauty products, recently said it continues to do well in China and emerging markets, and it expects growth in the U.S. as well.

The deal includes working capital of around $15 million. The product line sales were $94 million in 2011, and Cytec expects the transaction to have a neutral impact on full-year earnings in 2012.

Around 80 Cytec employees will transfer to Henkel. The deal is expected to close in the third quarter.

Cytec recently reported that its first-quarter earnings fell as coating resins sales slid.

Cytec shares closed at $63.05 on Thursday and were inactive premarket. The stock is up 41% so far this year.

-By Kristin Jones; Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com

(END) Dow Jones Newswires

May 11, 2012 08:53 ET (12:53 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Intermail FY: Underskud nedbragt trods stort fald i omsætningen

18-12-2014 15:06:02
Intermail, der producerer konvolutter og forsendelseskoncepter, havde igen røde tal på bundlinjen i regnskabsåret 2013/14, hvor omsætningen styrtdykkede til 416..

Novo indgår forskningsaftale med amerikanere - NY

18-12-2014 14:19:37
Novo Nordisk har indgået en forskningsaftale med amerikanske Xencor om at udvikle nye biologiske medikamenter gennem Xencors teknologiplatform.Det fortæller det..

Aktier/åbning: Mærsk og Vestas øverst i kraftigt stigende C20

18-12-2014 09:23:01
Det danske aktiemarked suser torsdag ud af startblokken med kursstigninger til samtlige aktier i det ledende C20-indeks. Investeringslysten har sit udspring i U..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas har kurs mod canadisk milliardordre
2
Putin: Økonomiske problemer vil vare højst to år
3
Rublen hopper og danser før Putins årstale
4
Carlsberg/Berenberg: Sælg-anbefaling droppet - anbefaler hold
5
SAS Q4: Voldsomme særlige poster gav røde tal

Relaterede aktiekurser

Cytec Industries Inc 44,50 0,5% Stigning i aktiekurs

Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
18. december 2014 19:20:14
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141211.1 - EUROWEB7 - 2014-12-18 19:20:14 - 2014-12-18 19:20:14 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x