Cabot Corporation is planning to invest US $90 million in upgrading its Ville Platte, Louisiana carbon black factory. According to various US news sources, the project will capture waste energy to create steam from an incineration process, remove impurities and generate electricity to power site operations. Cabot is expected to create 15 new jobs in addition to the existing workforce of 90 at the site as a result of the investment.
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.
On 25 November, Cabot Corporation’s Ville Platte, Louisiana carbon black manufacturing facility celebrated 75 years in operation. Established in 1943, Cabot Ville Platte is the oldest plant in Cabot’s network, and today operates four manufacturing units that produce 11 different grades of carbon black, primarily sold to customers throughout North America for rubber reinforcement applications.
On 1 October Cabot Corporation acquired NSCC Carbon (Jiangsu) Co., Ltd. from Nippon Steel Carbon Co., Ltd., a subsidiary of Nippon Steel Chemical & Material Co., Ltd. The carbon black manufacturing facility in Pizhou, Jiangsu Province, China, was originally commissioned in 2015. The purchase price and certain equipment and technology upgrades are expected to result in spending of approximately $50 million over the next two years.
Effective 1 June 2018, Cabot Corporation is increasing prices for carbon black products sold by its Reinforcement Materials segment in North America. All Vulcan, Sterling, Regal, Spheron and Propel carbon black products will increase by $0.045/lb except for Vulcan XC-72, Vulcan XC-72 R and Sterling C carbon blacks. In addition, prices will increase by 4 per cent for Black Pearls, Monarch, CRX, Vulcan XC-72, Vulcan XC-72 R and Sterling C carbon black products.
Cabot Corporation has announced that Eduardo Cordeiro, executive vice president, chief financial officer (CFO) and president of the Americas Region, will retire from Cabot at the end of 2018. He steps down from these roles effective 15 May 2018 at which time Erica McLaughlin, the company’s vice president of business operations for Cabot’s Reinforcement Materials segment and general manager of the tyre business, will become senior vice president and CFO. Cordeiro will remain with Cabot in an advisory capacity through the end of the year to assist in a smooth transition.
Cabot Corporation has completed two expansion projects extending its global footprint in black masterbatch and compounds and increase manufacturing capacity. The expansion has been achieved via an acquisition and the addition of capacity in Belgium.
Effective June 12, 2017, speciality chemicals supplier Cabot said it will increase prices on all carbon black products in its reinforcement materials segment sold in Europe, the Middle East and Africa (EMEA).
Top listing in the China Petroleum and Chemical Industry Federation’s 2013 ‘Energy Efficiency Frontrunner’ rating for the carbon black manufacturing sector has gone to Cabot Corporation. Local operation Cabot Chemical (Tianjin) Co., Ltd participated in the benchmark ranking for the first time in 2013 and was named the leading carbon black company in China in terms of energy efficiency. Cabot is the first multinational company to take part in the ranking.
Cabot Corporation has launched two new carbon black products for tyre tread applications. According to the company, Propel E7 carbon black is engineered to reduce tyre rolling resistance and improve vehicle fuel economy. Propel D11 carbon black is designed to provide a high level of tread durability and is purposed for use in both short-haul truck and off-the-road vehicle tyres. Cabot has been showcasing the new products at Tire Technology Expo 2014 in Cologne, Germany.
Cabot Corporation has completed its acquisition of the equity stake owned by Grupo Kuo S.A.B. de C.V. in its Mexican carbon black manufacturing joint-venture, Nhumo, S.A.de C.V. The company says Nhumo is Mexico’s leading carbon black producer and the acquisition of Kuo’s interest strengthens Cabot’s global carbon black business and will help meet growing demand throughout North America. The Nhumo business will now be integrated into Cabot’s Reinforcement Materials segment. Under the terms of the agreement, Cabot will pay Kuo US$105 million, of which $80 million was paid upon closing. In addition, at closing, a special dividend payment will be paid to Nhumo shareholders, of which Cabot will receive $14 million.
Cabot Corporation, the second largest carbon black manufacturer in the United States, has agreed to pay a US$975,000 civil penalty and spend an estimated $84 million on state of the art technology to reduce emissions of nitrogen oxide (NOX), sulphur dioxide (SO2) and particulate matter (PM) from its carbon black plants in Franklin and Ville Platte, Louisiana, and Pampa, Texas. According to the U.S. Environmental Protection Agency (EPA) and the Department of Justice, these measures will resolve alleged violations of the New Source Review (NSR) provisions of the Clean Air Act (CAA) at these three facilities.
Cabot Corporation has said that its Chinese “output capacity” will rise 25 per ecnt along with the operation of a plant in Xingtai, Hebei province. However the company is also quoted by local news sources as saying that it will not seek to go public and make acquisitions in China.
US-based speciality chemicals company Cabot Corporation has announced reaching “another key milestone” in its technology licensing agreement with Manufacture Francaise des Pneumatiques Michelin for use of Cabot’s patented elastomer composite technology in tyre applications. Regular royalty payments to Cabot have now begun and will extend through fiscal 2022.