02 August 2012 22:05 [Source: ICIS news]
HOUSTON (ICIS)--Cytec Industries has completed the $105m (€86m) sale of its pressure sensitive adhesives (PSA) product line to Germany’s Henkel, the US company said on Thursday.
The sale amount includes about $15m in working capital, Cytec said in a regulatory filing.
US-based Cytec’s PSA product range generated sales of $94m in 2011 and employs about 80 people. PSAs are specialised adhesives used for foils and films, tapes or labels in the packaging, automotive, electronics and durable goods industries.
Additional reporting by Nigel Davis
($1 = €0.82)
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