Who bought Cytec?
Who bought Cytec?
Solvay
Making a push into advanced composites for the aerospace and automotive industries, the Belgian specialty chemical maker Solvay has agreed to acquire New Jersey-based Cytec Industries for $5.5 billion.
What happened to Cytec Industries?
Cytec’s composites businesses will be integrated into Solvay’s Advanced Materials operating segment. Its mining chemicals as well as its niche additives and phosphine specialty chemical businesses will become part of Solvay’s Advanced Formulations segment.
When did Solvay purchase Cytec?
December 9, 2015
Brussels, December 9, 2015 — Solvay has successfully completed the acquisition of Cytec and will immediately begin the integration of Cytec’s businesses to deliver cost synergies and capture significant business opportunities in advanced lightweighting materials for the aerospace and automotive industries and in …
Who bought Solvay?
BASF
Solvay’s businesses to be acquired by BASF generated sales of around €1.0 billion in 2018. At closing, approximately 700 Solvay employees will move to BASF. The intended joint venture between BASF and Domo in France will employ approximately 650 employees.
Who founded Solvay?
Ernest Solvay
Solvay S.A./Founders
Wise entrepreneurs. Brothers Alfred and Ernest Solvay were just 23 and 25 years old respectively when they founded their company in 1863.
Where is Solvay based?
Brussels, Belgium
Solvay is an international chemical company founded in 1863, with its headquarters in Neder-Over-Heembeek, Brussels, Belgium.
Who is the CEO of Solvay?
Ilham Kadri (Mar 1, 2019–)
Solvay S.A./CEO
Ilham Kadri is CEO and President of the Executive Committee of Solvay, a materials, chemicals and solutions company which through its purpose, values and science contributes to protecting the climate, preserving resources and fostering a better life.
Where is Solvay in Europe?
Belgium
Where does Cytec make most of its sales?
Headquartered in New Jersey with 4,600 employees across the globe, Cytec generated sales of US$ 2.0 billion and a 20% REBITDA* margin in 2014. It sources almost half of its sales from North America, nearly a third from EMEA and the remainder from Asia Pacific and Latin America.
Why did Solvay acquire Cytec?
Brussels, December 9, 2015 — Solvay has successfully completed the acquisition of Cytec and will immediately begin the integration of Cytec’s businesses to deliver cost synergies and capture significant business opportunities in advanced lightweighting materials for the aerospace and automotive industries and in specialty chemicals for mining.
Who uses cycytec’s products?
Cytec’s products were sold to end users involved in a variety of industries, including water treatment, paper, mining, coatings, plastics, aerospace, textile, and automotive.
What is the upside for Cytec Industries’ stock?
On average, they anticipate Cytec Industries’ stock price to reach $31.50 in the next twelve months. This suggests a possible upside of 58.2% from the stock’s current price. View analysts’ price targets for Cytec Industries or view top-rated stocks among Wall Street analysts.
