LONDON, April 16, 2013 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of coverage of Cytec Industries, a US specialty chemicals and engineered materials company.

Edison has recently published a comprehensive report examining the investment merits of Cytec Industries, focusing on the group's potential to benefit from its growing exposure to structural growth markets, following completion of the disposal of its Coating Resins business and the acquisition of Umeco. In the report Engineering a transformed mix, Edison's Head of Industrials, Roger Johnston, argues that with 85% of group sales now focused on growth markets, including Aerospace and Mining, as well as emerging composite markets such as Automotive, Cytec has the opportunity to deliver significant top-line growth. In addition, the move away from commoditised chemicals and the delivery of complex critical materials, enhanced by Umeco, provides a higher-margin opportunity that will provide an increase in earnings quality and drive improved ROCE. With a $550m share buyback underway and based on a sum-of-the-parts relative peer group model, Edison values Cytec at a post-buyback value of $3,416m or $90/share, a 20% premium to the current share price.

For the full report see: http://www.edisoninvestmentresearch.com/research/company/cytec-industries.

The launch of coverage on Cytec is part of a programme of research initiations on industrial companies exposed to global market opportunities worldwide. Edison provides detailed research coverage on over 50 industrials and support service companies in Europe, North America and Australia. Its industrials research team provides a range of coverage across small-, mid- and large-cap companies active in sub-sectors such as Aerospace and Defence, Specialty Materials, Alternative Energy, Building Materials and Industrial Support Services, allowing a comprehensive knowledge of industrial supply chains. All published Edison reports are available to download free of charge from its website http://www.edisongroup.com.

About Edison Investment Research

Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals work with leading companies, fund managers and investment banks worldwide to support their capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Berlin, Sydney and Wellington. Edison is authorised and regulated by the Financial Services Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). Edison is not a US investment adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

About Cytec Industries

Cytec Industries is a US-listed, global specialty materials and chemicals company focused on developing, manufacturing and selling value-added products across a wide range of end-markets, including aerospace and industrial materials, mining and plastics.

For more information please contact:

Roger Johnston , Edison Investment Research  +44(0)20-3077-5722

industrials@edisongroup.com

SOURCE Edison Investment Research