Mergers & Acquisitions Cytec Acquires Metal Extraction Assets of Star Orechem
Cytec Industries has completed acquisition of the manufacturing assets of Star Orechem International Private Limited (SOIL), in Nagpur for US $37 million. The acquisition will increase Cytec’s global capacity for its metal extraction product line by approximately 25% and provides the ability to further expand production at the site.
Nagpur/India – “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 acquisition expands our global manufacturing footprint for the In Process Separation business, providing us with a more direct supply chain line to better serve our mining customers in Africa and the Asia Pacific region. Consistent with our goal of creating value for our shareholders, we remain focused on strengthening all of our growth platforms,” added Fleming.