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Cytec Performance Specialties to Implement Surcharges

Published on 2005-09-27. Author : SpecialChem

West Paterson, NJ -- Cytec Industries Inc. (NYSE: CYT) announced the immediate implementation of global transportation and energy surcharges on all products produced by the Cytec Performance Specialties segment. These surcharges will affect products produced by the Mining Chemicals, Phosphines and Phosphorus Specialties, Polymer Additives, Specialty Additives and Water Treatment businesses.

The transportation surcharge will be assessed at a rate of one to two cents per pound of product; the energy surcharge – which will vary from product to product – will be based on energy consumption during production.

Shane Fleming, President of Cytec Performance Specialties, said, "In recent months, we have been affected by the unprecedented rise in cost for fuel oil and natural gas. We have chosen to institute surcharges to cover a portion of the increased costs that have been incurred by our businesses."

Corporate Profile

Cytec Industries is a specialty chemicals and materials technology company with pro forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Its growth strategies are based on developing technologically advanced customer solutions for global markets including: aerospace, coatings, mining, plastics and water treatment.

Source: Cytec Industries


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