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Jodi Allen (Investor Relations)
(973) 357-3283
Cytec Enters Strategic Collaboration with
Jaguar Land Rover
To Develop Cost-Effective Use of Composites
Materials for Automotive Structures
Woodland Park, New Jersey, August 13, 2012 – Consistent with its
strategic plan to grow its presence in high performance
industrial markets, Cytec Industries Inc. (NYSE:CYT) today
announced that it has entered into a strategic collaboration
with Jaguar Land Rover, a premier luxury vehicle manufacturer.
The scope of the collaboration includes developing designs,
materials and manufacturing concepts for the cost-effective use
of composites materials for automotive structures.
“We are excited about this opportunity to develop composite
materials for high-volume serial automotive vehicles and are
pleased to partner in this initiative with Jaguar Land Rover,
which is known for its excellence in technological and design
innovations,” said Shane Fleming, Cytec Chairman, President and
Chief Executive Officer. “There are substantial growth
opportunities in the automotive market, including demonstrated
demand for cost-effective, composite materials suitable for
high-volume production. The use of carbon fiber-based structural
composites will play an instrumental role in reducing vehicle
weight and greatly lowering CO2 emissions and fuel consumption.”
Composites have been widely used for many years in the aerospace
industry, with recently developed aircraft benefitting from
significant reductions in weight and the consumption of fuel.
Recent designs have increased the amount of composites used by 5
to 10 percent, in some cases reaching approximately 50 percent
of the total weight of the aircraft. Cytec has a long history of
supplying aerospace programs, including commercial customers
such as Boeing and Airbus, with advanced composite materials.
“The partnership with Jaguar Land Rover is driven by Cytec’s
strategic plan to grow our presence in high performance
industrial markets,” Mr. Fleming continued. “Cytec has a long
history of supplying high-end supercars and key aerospace
programs with advanced composite materials, and the success we
have experienced in the aerospace industry should certainly
translate to the automotive space. As we focus on the
development of advanced composite materials for sustainable
vehicles, Cytec will be able to leverage its existing
capabilities as well as those it recently acquired in the Umeco
transaction, including state-of-the-art application development
capabilities in the U.K.”
Corporate Profile
Cytec’s vision is to deliver specialty chemical and material
technologies beyond our customers’ imagination. Our focus on
innovation, advanced technology and application expertise
enables us to develop, manufacture and sell products that change
the way our customers do business. Our pioneering products
perform specific and important functions for our customers,
enabling them to offer innovative solutions to the industries
that they serve. Our products serve a diverse range of end
markets including aerospace composites, structural adhesives,
automotive and industrial coatings, electronics, inks, mining
and plastics.
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