Cytec to buy advanced composite materials company Umeco plc


Cytec Industries Inc. announced plans to acquire all of the outstanding shares of Umeco plc, a UK provider of advanced composite materials, for approximately $439 million.

Cytec, a specialty chemicals and materials company headquartered in Woodland Park, NJ, stated that Umeco's board of directors intends to unanimously recommend the transaction to Umeco shareholders. Cytec line of products serves a variety of markets including aerospace composites, structural adhesives, automotive and industrial coatings, electronics, inks, mining and plastics.

The acquisition of Umeco will allow Cytec to further enhance and leverage its position in advanced composite materials, and expand Cytec's presence in both aerospace and industrial applications, an area where Cytec sees opportunities for growth and value creation, the company stated.
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