Effective June 1, Cytec Coating Resins is operating as Allnex, a global company with $1.5 billion in sales.
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, 2013. The adoption of the new name – Allnex – is the first step towards establishing the company’s new identity.
“We are excited about our new name,” said CEO Frank Aranzana. “We believe that it reflects who we are, what we stand for and what we want to achieve.”
The search for a name began with an employee contest in November 2012 that generated more than 300 possibilities. Those names gave inspiration 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,” Mr. Aranzana said.
As a global coating resins company that offers multiple products all under one roof, Allnex is unique in the marketplace. Its aim is to partner with customers so that it can leverage its extensive expertise and myriad of solutions, and together can create sustainable value across the different industry segments it serves. Allnex is also innovative, continually bringing new technologies and new ideas to customers and the marketplace.
These characteristics result in the name Allnex and slogan “All About Resins.”
The company’s new logo was designed to reflect Allnex’s product portfolio, sustainable innovations, growth aspirations and commitment to continuous improvement. Specifically, the multiple colors and sizes of the droplets represent Allnex’s technologies, products and talented employees. In addition, the green droplet stands for sustainability while the upward movement of the droplets and text reflects the company’s commitment to operational excellence, innovation and growth, both for Allnex and its customers.
“We believe that Allnex is the one name that we can all stand behind and be proud of,” Mr. Aranzana adds.
Cytec Coating Resins Establishes New Identity as Allnex