Cytec Industries Inc said it will sell its coating resins business to private equity firm Advent International for $1.03 billion. The sale is expected to close in the first quarter 2013, Cytec said in a statement.
Cytec Industries Inc. (Cytec) is a specialty chemicals and materials company focused on developing, manufacturing and selling value-added products. Shares of CYT remained unchanged at $64.70. In the past year, the shares have traded as low as $35.20 and as high as $70.07. On average, 484791 shares of CYT exchange hands on a given day and today's volume is recorded at 0.
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