Woodland Park, New Jersey - Cytec Industries Inc. has changed its business segment reporting structure to align with organisational changes implemented in the second quarter of 2009 and provide greater clarity of the new strategic focus of the company, the company said 3 June.
The company will now have five reportable operating segments:
• Coating Resins - Liquid Coating Resins, Radcure, Powder Coating Resins
• Additive Technologies - Polymer Additives, Specialty Additives
• In Process Separation - Mining Chemicals, Phosphine Chemicals
• Engineered Materials - Advanced Composites, Carbon Fibers, Adhesives
• Building Block Chemicals - Acrylonitrile and Hydrocyanic Acid, Melamine, Sulfuric Acid
Urethane resin products will part of Liquid Coating Resins, the statement said, adding that Additive Technologies now comprises the Polymer Additives and Specialty Additives product lines, previously included in Performance Chemicals.
"While 2009 continues to be a challenging year for us, I am confident that the realignment of our operating segments is the right operating model to implement our long-term strategy more effectively," said Shane Fleming, Cognis ceo. Fleming said the company is focusing on building core technology competencies in high growth markets to create greater shareholder value when the economy begins to recover.