To: bdog who wrote (20809 ) 8/25/1998 12:27:00 AM From: Magnatizer Respond to of 79273
AMTK is a non TA play The American Materials & Technologies Corporation (Nasdaq) Merger With Cytec Industries Inc. (NYSE) Gains FTC Clearance PR Newswire - August 24, 1998 08:17 LOS ANGELES, Aug. 24 /PRNewswire/ -- The AMERICAN MATERIALS & TECHNOLOGIES CORPORATION (Nasdaq: AMTK; PCX: MTK) announced today that the Federal Trade Commission has completed its Hart-Scott-Rodino Act review of AMT's merger with Cytec Industries Inc. (NYSE: CYT) and has not imposed any conditions on the completion of the transaction. The companies announced in early July a definitive agreement for Cytec to acquire AMT in an all stock transaction designed to qualify as a tax-free reorganization. AMT stockholders will receive the equivalent value of $6.00 per share in Cytec shares (based on the average closing price for the twenty trading days prior to closing). The transaction remains subject to approval by AMT stockholders and other customary closing conditions. Mr. Paul W. Pendorf, President of AMT, stated, "We are pleased that this regulatory review of the merger has been completed. We anticipate mailing proxy material to our stockholders in early September and expect to complete the transaction by mid-October." The American Materials & Technologies Corporation manufactures and markets advanced composite materials for customers in the aerospace, defense, transportation, communication, sporting goods, and other industries. Products include fabrics, tapes and parts made from graphite, fiberglass, aramid, quartz and other fibers impregnated with proprietary resin formulations, with special emphasis on high temperature applications, aircraft interiors and high performance golf club shafts. Cytec Industries Inc. is a vertically integrated specialty chemical company which focuses on value-added specialty products. The company develops, manufactures and markets specialty chemicals, specialty materials and building block chemicals serving a broad group of end users, including aerospace, plastics, coatings, mining, paper, water treatment, and automotive industries. SOURCE AMERICAN MATERIALS & TECHNOGIES CORPORATION /CONTACT: Paul W. Pendorf, President of AMERICAN MATERIALS & TECHNOGIES, 310-841-5200, or fax, 310-837-2845/ (AMTK CYT) ht david