By Liz White, UT staffWest Paterson, New Jersey- Cytec Industries Inc., which reorganised its businesses by forming a Cytec Specialty Chemicals grouping in October 2005, has made some further refinements to this group's two operating segments. Its specialty adhesive and urethane product lines, which had 2005 revenue of about $160 million, have been moved to Cytec Performance Chemicals, from Cytec Surface Specialties. "This refinement better reflects the customer perspective, how we run the business and manage the assets," commented Cytec, in a release. The regrouping follows Cytec's major November 2004 expansion of its surface chemicals business, when it acquired the surface chemicals division of Belgian UCB Group, for about $1800 million. Cytec Surface Specialties is now made up of product lines that enhance the surface qualities of products-primarily in the global coatings and inks markets, said the group. Cytec Performance Chemicals consists of specialty chemical product lines for industrial markets including mining, plastics, adhesives, and water treatment. Cytec Specialty Chemicals offers materials for the coatings, mining, water treatment, plastics and adhesives markets and makes a range of urethane specialties, phosphine derivatives and speciality additives and stabilisers for diverse applications. Its two segments together account for nearly 75 percent of Cytec's total 2004 sales of approximately $3000 million, and is headquartered in Brussels, Belgium. Some of Cytec's urethane chemicals are used in refinishing automobiles and in industrial grade flooring. As well as the speciality chemicals business, Cytec has an Engineered Materials division and one for Building Block Chemicals . "
