Cytec Announces Additional $200 Million Stock Buyback Authorization

ytec Industries Inc. CYT announced today approval by the company's Board of Directors of an additional $200 million stock buyback authorization. The Company has essentially completed its prior authorization of $150 million announced in January of this year. Shane Fleming, Chairman, President and Chief Executive Officer commented, "We are committed to increasing the value of Cytec to our shareholders and employees. We view stock buybacks as just one of the many opportunities we have before us for value creation."