Cabot Corporation announces changes to business segments
US specialty chemicals firm Cabot Corporation has realigned its global business segments, a measure claims to have undertaken in order to improve efficiency and resource prioritisation. The realignment brings the business segments closer in line with the company’s recently announced management changes, and Cabot says an added benefit will be a stronger customer focus. The changes will be represented in Cabot Corporation’s financial results as of the first quarter of fiscal 2015.
The company is organised into four segments that now include Reinforcement Materials, Performance Chemicals, Specialty Fluids and Purification Solutions. The Reinforcement Materials segment now combines the rubber blacks and elastomer composites product lines, and has the main objective of serving the tyre and industrial rubber industries.
According to Cabot, the new segment structure is aligned with recent senior management changes. Sean Keohane has become a company executive vice-president and president of the Reinforcement Materials segment. Nick Cross is a Cabot executive vice-president and president of the Performance Chemicals and Specialty Fluids segments. Fred von Gottberg is the company’s senior vice-president and president of the Purification Solutions segment.
Commenting on the changes, Cabot president and CEO Patrick Prevost, said: “The new segment structure will better align with our organisation and improve resource prioritization. Our objective remains to deliver earnings growth through superior customer relationships, manufacturing excellence, and outstanding technology development and engagement.”