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Cytec Announces Methanol Surcharge for Liquid Coating Resins in Europe, Middle East and Africa

 

West Paterson, NJ, January 15, 2008 – Cytec Industries Inc. (NYSE:CYT) announced today to its customers that it is implementing a methanol surcharge for all CYMEL® and CYREZ® amino cross-linking resins shipped in Europe, Middle East and Africa, on or after January 15, 2008.

 

The surcharge is due to offset the increase of the ICIS FOB Rotterdam methanol price which has risen from 380 EUR/mt in the fourth quarter of 2007 to 490 EUR/mt in the first quarter of 2008.

 

The surcharge will apply as follows:
•   0.15 EUR/kg for HMMM and high solid grades
•   0.07 EUR/kg for conventional grades.

 

The surcharge will be reviewed quarterly, based upon the evolution of the prices of methanol, and will be implemented on all shipments on or after the 15th of the first month of the quarter.

 

Corporate Profile
Cytec Industries Inc. is a global specialty chemicals and materials company focused on developing, manufacturing and selling value-added products. Our products serve a diverse range of end markets including aerospace, adhesives, automotive and industrial coatings, chemical intermediates, inks, mining and plastics. We use our technology and application development expertise to create chemical and material solutions that are formulated to perform specific and important functions in the finished products of our customers.