Cytec to divest coating resins business
Cytec Industries Inc. has entered into an
agreement to divest its coating resins business to Advent International, a global private equity firm for $1,032 million plus
assumed liabilities of $118 million, bringing the total value to $1,150 million. The
sale is expected to close in the first quarter 2013, following the satisfaction of regulatory requirements and other customary
closing conditions.
“I am extremely pleased with the evo-
lution of Cytec over the last 18 months
and this transaction is another significant
step in our portfolio transformation,” said
Shane Fleming, chairman, president and
chief executive officer of Cytec. “The sale
enables us to focus on our industry-lead-
ing portfolio of growth platforms com-
prised of advanced materials and
separation technologies to drive long-term
growth and deliver greater returns to our
shareholders.”
Included in the transaction are the ra-
diation-cured resins, liquid coating resins,
powder coating resins and amino
crosslinkers product lines. J.P. Morgan
acted as Cytec’s financial advisor.
Shimadzu Scientific
Instruments launches web site
Shimadzu Scientific Instruments has unveiled its new website at www.ssi.shi-madzu.com. The site now offers a clean,
contemporary look and integrates with all
of Shimadzu’s global websites.
The new website features updated navigation with improved menus so users can
find product information quickly and easily. It also boasts more product pages. In
addition, the website features enhanced
social media integration with Twitter.
Celanese launches newly
designed web site
Celanese recently launched its new website to better serve its customers’, stakeholders’, communities’ and employees’
needs. The new design features easy-to-use
navigation, updated content, video, case-
studies highlighting product innovation
and improved search functionality. There’s
also an easy way to follow the company
on social media channels.
The customer-focused website centers
on Celanese products and the industries
where they are utilized. Customers can still
find products within the individual business
sections of the website with ease and with
enhanced content. In addition, customers
can start a search via a particular application and then view all the products offered
company-wide for that end-use.
The website can be viewed at
www.celanese.com.
AkzoNobel Specialty Chemicals
sponsors Coatings Research
Group Inc. seminar
AkzoNobel Specialty Chemicals has
sponsored the semi-annual technical
seminar of the Coatings Research Group
Inc. (CRGI). An international industry
association dedicated to the benefits of
AkzoNobel's Specialty Chemical Team, from
left to right: Dan Verstrat – senior scientist,
surface chemistry; Steve Grant – sales manager North America – paint, performance additives; Emile Trottier – global marketing
manager – paint, performance additives;
Frank Daye - account manager – surface
chemistry; Jonathan Slepsky – sales engineer-Expancel USA; Asa Soderlund – RD&I project
leader- performance additives; Susan Booth -
business manager – surface chemistry; Hua
Yu – global R&D manager, surface chemistry;
and Jan Nordin – technical service manager,
Expancel USA.
shared research and development, the
CRGI recently staged its Fall Technical
Seminar in Chicago. The two-day event
provided delegates with an opportunity
to address market challenges and collaborate on future technologies. Interactive
roundtable discussions and member presentations were also included on the
agenda and featured many contributions
from scientists at AkzoNobel’s Specialty
Chemicals business.
“Our relationship with AkzoNobel
Specialty Chemicals is a valuable one,”
said Jackie Savoca, CRGI’s executive director. “The ongoing dialog enables them
to identify and develop new and sustainable product technology in order to meet
the ever-changing needs of our industry.”
Members of AkzoNobel’s Functional
Chemicals (Performance Additives), Surface Chemistry and Pulp and Performance
Chemicals (Expancel) businesses all participated in the event.
CRGI’s involvement with AkzoNobel
Specialty Chemical’s goes beyond the
twice yearly seminar. Business representatives meet with CRGI members and organization officials year-round to
provide information on the latest product innovations and receive comprehensive customer feedback on the
performance of their products.
CSM & BASF establish JV for
production and sale of
biobased succinic acid
BASF and Purac, a subsidiary of CSM,
will establish a joint venture for the production and sale of biobased succinic acid.
The company will be called Succinity
GmbH and will be operational in 2013.
The establishment of Succinity GmbH is
subject to filing with the relevant competition authorities. The company headquarters will be in Düsseldorf, Germany.
BASF and CSM have been conducting
research under a joint development agreement on succinic acid since 2009. The
complementary strengths in fermentation
