Cytec Completes Purchase of Joint-Venture Resins Business

WEST PATERSON, NJ - Cytec Industries Inc. completed its previously announced dissolution of Mitsui-Cytec Ltd., a joint-venture business with Mitsui Chemicals Inc.

With the transaction, Cytec owns 100% of the venture's existing coatings-resin business, including a manufacturing facility in Shimonoseki, Japan. Terms were not disclosed. The venture was launched in 1976.