Cytec Industries, Inc. Overview
Company Headquarters: US
Founded: 1993
Workforce: 4,400
Company Working: Cytec Industries, Inc. (Cytec) is one of the leading developers, manufacturers, and distributors of composites and specialty materials. The products offered by Cytec serve a wide range of end users such as aerospace and industrial materials, plastics, and mining. It operates through four business segments, namely, aerospace materials, industrial materials, in process separation, and additive technologies. The company manufactures and sells various high-performance grades of standard modulus PAN and pitch-based carbon fibers that are primarily used as reinforcement material for aerospace and other high-performance composites. Cytec utilizes around 89% of its carbon fiber production and sells the balance to third parties.
Strategy
Cytec is focused on developing a robust, sustainable portfolio of businesses that improves its sales and earnings growth with minimum operating margins of 10%. Moreover, the company strives to improve return on assets by investing in and expanding its existing platforms, while exiting non-strategic or underperforming businesses. In line with these strategies, the company has been actively engaging in portfolio realignment for the past three years. For instance, in February 2011, Cytec divested its building block chemicals business and in July 2012 it acquired Umeco PLC, an advanced composites and process materials supplier to the aerospace and industrial markets.
