Degussa AG has signed an agreement
to acquire Cytec Industries Inc.’s 50%
holding in CYRO Industries–a joint
venture established in 1976 between
Degussa and Cytec–for $95 million.
Degussa’s methacrylate activities will
be combined with CYRO’s activities in
the Americas following closing. The
agreement includes four manufacturing
facilities in Wallingford, CT,
Fortier, LA, Osceola, AK and Sanford,
ME; research and development assets;
and sales and technical service locations
in North America. CYRO had
sales of $317 million in 2004.