WOODLAND PARK, N.J. (AP) â¿¿ Chemical coating maker Cytec Industries Inc. has closed on its $37 million purchase of Star Orechem International Private Ltd.'s manufacturing assets in India.
Cytec said Monday that the buyout will increase its capacity for its metal extraction product line by about 25 percent and allow it to expand production further in India.
The manufacturing operations will make Cytec's Acorga solvent extractant products and continue to supply solvent extractant product for Star Orechem's distribution operations and supply needs.
Shares of Cytec, which is based in Woodland Park, N.J., added 11 cents to $60.90 in afternoon trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV