Cabot Corporation has completed its previously announced acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) for approximately US$115 million. The business will be integrated into Cabot’s Performance Chemicals Segment.
On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.
Effective 1 October 2018, Jay Doubman, currently senior vice president, Corporate Strategy and Development, and president, Cabot Corporation Specialty Fluids segment, will assume responsibilities for leading the specialty carbons, fumed metal oxides, and aerogel product lines, as senior vice president and president, Performance Additives.
The future of the global carbon black market looks good with the market expected to reach an estimated US$20.2 billion by 2023. This means that during the period between 2018 and 2023 the market will grow at a Compound Annual Growth Rate (CAGR) of 5.6 per cent.
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.