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New Name Caps Cytec Resins Transition

Wednesday, June 5, 2013

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So long, Cytec; hello, Allnex.

Two months after becoming an independent company, Cytec Industries’ old coating resins business officially has a new identity: Allnex.

Headquartered in Brussels, Belgium, Allnex develops, produces and sells synthetic resins for paint, coatings, and printing inks.

"We are excited about our new name," Frank Aranzana, CEO, said in an announcement. "We believe it reflects who we are, what we stand for, and what we want to achieve."

Cytec Industries sold its coating resins business to Advent International, a global private equity firm, on April 3 for a total value of $1.1 billion, including assumed liabilities of approximately $118 million.

Allnex
Photos: Allnex

Cytec Industries' former coating resins business has been renamed Allnex after its sale in April to a private equity firm.

"Because a company name is one of the most visible aspects of its reputation, it was very important to take the time to consider the company's identity, mission and future ambitions in the selection process," Aranzana said.

"We believe Allnex is the one name that we can all stand behind and be proud of."

The name change became effective June 1.

Employee Inspiration

The search for a new name started in November 2012 with an employee contest that generated more than 300 ideas. Using those names as inspiration, a global diversity group then brainstormed for a new name and incorporated advice from a leading brand agency.

The company's new logo was designed to reflect Allnex's product portfolio, sustainable innovations, growth aspirations and commitment to continuous improvement, the company said.

Cytec coating resins

Employees helped generate more than 300 ideas for the new name, which comes with a new logo and the slogan, "All About Resins."

The colors and sizes of the droplets are meant to represent Allnex's products and employees. The green droplet specifically stands for sustainability, and the upward movement of the droplets and text represents the company's commitment to operational excellence, innovation and growth.

The new name and logo also come with a slogan: "All About Resins."

About the Company

Allnex is a global company with $1.5 billion in sales that supplies resins for industrial, architectural, OEM and special purpose coatings.

The company's portfolio includes liquid resins and additives, radiation cured and powder coating resins, and crosslinkers for use on wood, metal, plastic, and other surfaces.

More information: www.allnex.com.

   

Tagged categories: Acquisitions; Additives; Adhesive; Allnex; Cytec Industries Inc.; Resins

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