US Cytec acquires SOIL manufacturing assets in Nagpur, India

02 April 2012 14:27  [Source: ICIS news]

LONDON (ICIS)--Cytec Industries has acquired the manufacturing assets of India-based Star Orechem International Private Limited (SOIL) in Nagpur for $37m (€28m), the US-based specialty chemical producer said on Monday.

Cytec said the acquisition will increase the global capacity for its metal extraction product line by approximately 25%.

"This acquisition enables us to meet the strong growth we are seeing for our extractant products coming from increased use of this technology in both new copper mining projects as well as existing properties," said Shane Fleming, chairman, president and CEO of Cytec.

The acquired operations will manufacture Cytec's ACORGA solvent extractant products and will also continue to supply solvent extractant products for SOIL's distribution operations and supply obligations, the group said.

($1 = €0.75)

By: Franco Capaldo
+44 (0)20 8652 3214

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