Cytec Industries Approves Share Buyback and Westlake Chemical Closes Offering of $250 Million Tax-Exempt Bonds

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City of Industry, CA --(www.USEquityNews.com)-- 12/14/2007 - Alternative Energy industry alert provided by U.S. Equity News. Chemicals maker Cytec Industries Inc. (NYSE: CYT) said recently its board of directors approved a new $100 million share repurchase program. The company said it recently completed its prior program, which was also for $100 million. The new authorization represents about 3 percent of its market capitalization. Cytec Industries shares rose 28 cents to close at $63.01.


Industrial materials manufacturer Ferro Corp. (NYSE: FOE) said recently it plans to cut at least 50 jobs and book a $1.6 million pretax charge as part of an effort to restructure its inorganic specialties division. The company will take the charge, to cover employee severance and pension costs, in the fourth quarter. It is in addition to previously announced charges.

Westlake Chemical Corporation (NYSE: WLK) announced recently that it has completed the issuance of $250 million of tax-exempt revenue bonds due November 1, 2032 with an interest rate of 6 3/4% per annum. The Bonds were issued through the Louisiana Local Government Environmental Facilities and Community Development Authority, a political subdivision of the State of Louisiana. The proceeds from the Bond offering, which were issued under the Gulf Opportunity Zone Act of 2005, will be loaned by the Authority to Westlake Chemical Corporation.

ALL Fuels & Energy Company (OTCBB: AFSE) President Dean Sukowatey recently expanded on his statements contained in a November 8, 2007, article (by S.P. Dinnen, http://www.allfuelsandenergy.com/web.page.desmoinesregister.110807.pdf) in the Des Moines (IA) Register, after numerous inquiries. In particular, Mr. Sukowatey discussed the ALL Fuels' slogan, "Ethanol... a Commitment to America," and how strongly committed the company is to supporting alternative fuels production. Mr. Sukowatey offered as an example ALL Fuels' ongoing investigation of opportunities relating to increased efficiencies in production through enzyme compounds and other developing technologies.

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