WOODLAND PARK, N.J. (May 24, 3 p.m. ET) — Cytec Industries Inc. said it is selling its coating resins business, which includes urethane resins.
The company said it expects to divest the business before the end of the year. Cytec didn't say if it has a buyer for the business.
Besides urethane resins, the coatings business includes radiation-cured types, liquid coating resins and additives, powder-coating resins and amino crosslinkers.
The divestiture is part of Cytec's strategy to focus on high-growth, advanced composite materials and separation technologies, the company said.