UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) June 4, 2002
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Cytec Employees' Savings and Profit Sharing Plan
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(Exact name of registrant as specified in its charter)
not applicable 1-12372* 22-3268660
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o Cytec Industries Inc,.
5 Garret Mountain Plaza
West Paterson NJ 07424
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (973) 357-3100
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(Former name or former address, if changed since last report)
*Commission File Number for Cytec Industries Inc., the issuer of the securities
held pursuant to the plan.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
KPMG LLP was previously the principal accountants of the Cytec
Employees' Savings and Profit Sharing Plan (the "Plan"). Cytec Industries Inc.
(the "Company") is the issuer of the securities held pursuant to the Plan. The
Company arranges and pays for the annual audit of the Plan's financial
statements. The Company dismissed KPMG LLP as the Plan's principal accountant
effective as of June 4, 2002. The Company continues to retain KPMG LLP as the
Company's principal accountant to audit the Company's financial statements. The
decision to change the principal accountant of the Plan was approved by the Plan
Administrator.
The audit reports of KPMG LLP on the financial statements of the Plan
as of and for the years ended December 31, 2000 and 1999 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified or modified as
to uncertainty, audit scope or accounting principles. Additionally, in
connection with the audits of the two fiscal years ended December 31, 2000 and
the subsequent interim period through June 4, 2002, there were no disagreements
with KPMG LLP on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedures relative to the Plan's
financial statements which disagreements, if not resolved to the satisfaction of
KPMG LLP, would have caused it to make a reference to the subject matter of the
disagreement in connection with its report.
The Company intends to name a successor to audit the Plan's financial
statements in the near future.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit 16 letter of KPMG LLP, dated June 10, 2002 regarding change in
certifying accountant, is filed herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Cytec Employees' Savings and Profit
Sharing Plan
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(Registrant)
Date June 10, 2002 /s/ J. E. Marosits
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J.E. Marosits
Plan Administrator
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EXHIBIT INDEX
EXHIBIT DESCRIPTION PAGE
16 Letter of KPMG LLP dated June 10, 2002 5
regarding change in certifying accountant
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