Cytec flying high with Fiberite aerospace advanced composites.(Cytec Industries Inc.)

Chemical Market Reporter, September, 1997 by Chang, Joseph

Earlier deal with Hexcel was scuttled by FTC. CYTEC INDUSTRIES Inc. will bolster its formidable position in the rapidly growing aerospace materials market with an agreement to acquire nearly all the assets of Fiberite Inc. from Stamford FHI Acquisition Corporation for $344 million in cash.

The planned acquisition represents the latest step in the restructuring of the advanced composites industry, which has accelerated as of late. Hexcel Corporation acquired the composites businesses of Hercules and Ciba last year, while Fiberite acquired two small businesses last year and DuPont's composites business early this year. Fiberite, expected to achieve $250 million in sales this year, is a leading supplier of advanced composite fiber materials...

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