Cytec Coating Resins is now operating as Allnex, effective June 1. Company officials say the adoption of the new name is the first step toward establishing the company’s new identity.
The divestiture of the Coating Resins business of Cytec Industries to funds affiliated with Advent International was first announced in October 2012 and completed on April 3.
“We are excited about our new name,” says CEO Frank Aranzana. “We believe that it reflects who we are, what we stand for, and what we want to achieve.”
The company began its search for a name with an employee contest in November 2012 that generated more than 300 possibilities. Those names were provided to a global diversity group, which brainstormed further and incorporated advice from a leading branding agency.
“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,” says Aranzana.
He adds, “We believe that Allnex is the one name that we can all stand behind and be proud of.”