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American company Cytec Industries Inc. has established and successfully operates multifunctional SSC in Riga
In spring 2010 Cytec Industries Inc. announced its intention to open a global Shared Services Center in Riga, Latvia in the second half of 2010. Today, the Center employs 68 people and the company intends to recruit approximately 125 people over a two year period to work in this Center, attracting qualified specialists in the field of finance, accounting, HR, procurement and IT, with excellent knowledge of English, as well as other languages (Spanish, Dutch, French, German, Italian).
Investment and Development Agency of Latvia started working with the Shared Services Center project since summer 2009.
Cytec is a global specialty chemicals and materials company focused on developing, manufacturing and selling value-added products. The Shared Services Center in Riga provides human resources, finance, IT and procurement services (administrative and transactional) to Cytec facilities in the USA and Canada, as well as in Europe (Germany, Austria, the Netherlands, Belgium and France).
Vice-president and CFO of Cytec, David Drillock, has disclosed to “CFO World UK” that there could be more functions introduced in the future, including non-finance function work. He believes that there is an opportunity to create a multi-functional processing center.
Cytec chose Latvia for locating a global Shared Service Center primarily because of its good business climate and an educated, cost competitive workforce. David Drillock admitted that at first the country has not been considered and that the location was suggested by consultants from the Hackett Group, who were advising Cytec on best practice and other issues: “We went to visit Riga and I was surprised how good it was – with good universities and an educated workforce. The authorities were very supportive. So the location decision became an easy choice. It’s turned out to be a very good choice for us.”
The project in Riga was implemented in close cooperation with Hackett Group, Investment and Development Agency of Latvia, USA Embassy, American Chamber of Commerce in Latvia, CVO Recruitment, Colliers International and others.
Corporate profile:
Cytec Industries Inc. delivers specialty chemicals and materials technologies beyond our customers’ imagination. Our focus on innovation, advanced technology and application expertise enables us to develop, manufacture and sell products that change the way our customers do business. These pioneering products perform specific and important functions for our customers, enabling them to offer innovative solutions to the industries that they serve. Our products serve a diverse range of end markets including aerospace composites, structural adhesives, automotive and industrial coatings, chemical intermediates, electronics, inks, mining and plastics.
http://www.cytec.com/
SIA Cytec Latvia office is located |  |
