(chemmonitor) -- The US-based
specialty chemicals company headquartered in New Jersey, Cytec Industries Inc.,
reached the decision to sell its coating resins unit instead of separating the
business. The assistant in its sale process is the New York-headquartered
company J.P. Morgan Securities LLC.
Cytec Industries Inc. plans to fulfill the deal by late 2012.
The selling of coating resins business will allow the company to concentrate
fully on its composite materials production and to expand as well as develop its
position in the global market.