BRUSSELS, BELGIUM - After the coating resins business that was formerly part of Cytec Industries Inc. sold to private equity firm Advent International, Cytec has decided to given the business a name change.

Following a staff contest that kicked off last November, Cytec's coating resin will now be known as Allnex.

"Because the name of a company is one of the most visible aspects of his reputation, it was very important to take time in the selection process regarding identity, mission and future plans of the company," explains CEO Frank Aranzana. "We think that Allnex is the name behind which we all stand and to which we can all be proud," adds Aranzana