Cabot Corporation reports developments as a global specialty chemicals and performance materials company serving tire, industrial, battery, coatings, inkjet and advanced-materials markets. Its recurring updates focus on the Reinforcement Materials segment, which supplies reinforcing carbon products for tires and industrial rubber applications, and the Performance Chemicals segment, which includes specialty carbons, specialty compounds, fumed metal oxides, battery materials, inkjet colorants and aerogel.
Company news also covers quarterly operating results, segment EBIT trends, common stock dividends, supply agreements for lithium-ion battery applications, and manufacturing footprint actions. Cabot’s completed acquisition of Mexico Carbon Manufacturing expanded its reinforcing carbon capacity, while EVOLVE Sustainable Solutions updates describe circular reinforcing carbon production capabilities in major regions.
Cabot Corporation (NYSE: CBT) announced the expansion of its Inkjet manufacturing facility in Haverhill, Massachusetts, with a new production line. This expansion is part of a $50 million investment over the next three years to increase capacity for color aqueous pigment dispersions, meeting the growing demand for digital printing solutions. The new line is set to be operational in 2023, enhancing operational efficiencies and supporting the transition to digital printing by offering more sustainable production options.
Cabot Corporation (NYSE: CBT) will release its operating results for Q2 FY2022 on May 2, 2022, after market close. A conference call and webcast will follow on May 3, 2022, at 8:00 AM ET to discuss these results. Investors can access the webcast via Cabot's official website, where an archive of the presentation will also be available. Cabot is a leader in carbon black and specialty chemicals, headquartered in Boston, Massachusetts.
Cabot Corporation (NYSE: CBT) has been awarded a platinum rating by EcoVadis for the second year in a row, putting it in the top 1% of the basic chemicals manufacturing sector. This rating reflects Cabot's strong performance in environmental, social, and governance (ESG) areas, with an outstanding score in the environment category. Cabot aims for net-zero carbon emissions by 2050, emphasizing sustainability as a core company value. Additionally, the company has been recognized in Newsweek's 'America’s Most Responsible Companies' list for three consecutive years.
One Equity Partners has acquired Norit Activated Carbon from Cabot Corporation (NYSE: CBT). Norit, a leader in activated carbon solutions for over 100 years, has a diverse product portfolio catering to sectors like renewable energy, pharmaceuticals, and air quality. The acquisition aims to drive growth through geographic expansion and product diversification. The global activated carbon market is projected to grow at a CAGR of approximately 9%, fueled by rising regulatory standards in purification technologies.
Cabot Corporation (NYSE: CBT) has successfully completed the divestiture of its Purification Solutions business to One Equity Partners. This sale, which generated $257 million in revenue in fiscal 2021, is part of Cabot's strategy to streamline its operations and focus on strengthening core business segments. The company will now operate under two reportable segments: Reinforcement Materials and Performance Chemicals. Cabot's CEO, Sean Keohane, highlighted the transaction as a strategic move to enhance growth plans outlined in their 'Creating for Tomorrow' strategy.
Cabot Corporation has successfully completed the acquisition of Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group. This strategic move enhances Cabot’s manufacturing capabilities, particularly in its Battery Materials sector, with a production capacity of 50,000 metric tons of carbon black annually. The acquisition aims to support the growing demand for lithium-ion batteries, with plans to upgrade the site for battery-grade production by early 2024. Additionally, Cabot is committed to implementing advanced environmental controls in line with local regulations.
Cabot Corporation (NYSE: CBT) has expanded its Engineered Elastomer Composites (E2C™) product line for off-the-road (OTR) tire retreading applications, enhancing performance and sustainability. The E2C solutions can extend the life of retreaded tires by up to 30%, lowering costs and reducing environmental impact. This initiative supports the circular economy by reusing tires instead of discarding them. With a focus on maximizing operational efficiency, Cabot's E2C products are compatible with various mixing processes and have been successfully implemented across North and South America.
Cabot Corporation (NYSE: CBT) has announced the groundbreaking of a new specialty compounds facility in Cilegon, Indonesia, which will add 20,000 metric tons of annual capacity for specialty compounds. The facility aims to meet rising demand in the masterbatch and conductive compounds market, driven by economic growth and increased production of electrical devices. Highlighting sustainability, Cabot plans to utilize the latest technology and energy reuse strategies in the facility, aligning with its goal of achieving net zero carbon emissions by 2050.
Cabot Corporation (NYSE: CBT) reported a diluted loss per share of $1.57 for Q1 FY2022, despite an adjusted EPS of $1.29, a 9% increase year-over-year. The company achieved net sales of $968 million, up from $746 million in Q1 FY2021. Strong EBIT results of $85 million in Reinforcement Materials and $52 million in Performance Chemicals were noted. Cabot announced plans to acquire a manufacturing plant in China to bolster growth in Battery Materials, alongside returning $40 million to shareholders through dividends and share repurchases.
On January 14, 2022, Cabot Corporation (NYSE: CBT) announced a quarterly dividend of $0.37 per share, payable on March 11, 2022, to stockholders of record as of February 25, 2022. This dividend reflects the company’s commitment to returning value to shareholders amid their operations in specialty chemicals and performance materials. Cabot is a key player in various sectors, including carbon black and activated carbon.