Cabot Corporation Announces Expansion of Carbon Black Facility in Tianjin, China |
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Cabot Corp.
75 State St.
Boston, MA, 02109
USA
Press release date: July 19, 2007
BOSTON and TIANJIN, China, July 19 /-- Cabot Corporation (NYSE:CBT) announced today it will expand its carbon black facility in the Tianjin Economic Technical Development Area (TEDA). Cabot Chemical (Tianjin) Co., Ltd., a joint venture with Shanghai Coking Chemical Co., will invest approximately $65 million to construct two additional rubber blacks units, increasing the nameplate capacity of the plant to approximately 250,000 metric tons. The existing rubber blacks units at the facility are operating at full capacity and the expansion will allow Cabot to support the growing demand in the China market.
William J. Brady, executive vice president and general manager, Carbon Black Business said, "Cabot is pleased to be able to expand its Tianjin facility, one of the most technologically advanced carbon black manufacturing sites in the world. Working together with the highly skilled local workforce and with the continued support of local officials in China, we are committed to supplying high quality carbon black products to meet customers' growing demand."
At the official groundbreaking ceremony, Mr. Xinsheng Zhang, vice president of Cabot Corporation and president of Cabot (China) Limited said, "Scheduled to be completed in 15 months, this project includes the most advanced waste energy recovery and environmental technologies. We are able to commence construction of the expansion through the project team's hard work and strong support from the Tianjin and TEDA governments."
Mr. Hu Gongming, chairman of Cabot Chemical (Tianjin) Co. Ltd. and Party Secretary of Shanghai Coking Co., Ltd. said, "Our expansion project reflects the strength of our longstanding relationship with our partner, Cabot Corporation. We look forward to building on the success of this relationship." Cabot and Shanghai Coking have been joint venture partners since 1988.
Cabot Corporation is a global specialty chemicals and materials company headquartered in Boston, Massachusetts, USA. Cabot's major products are carbon black, fumed silica, inkjet colorants, capacitor materials and cesium formate drilling fluids. The website address is: www.cabot-corp.com.
Founded in 1958, Shanghai Coking Chemical Co., Ltd. is one of the largest manufacturers of coke and methanol in China. The website address is: http://www.shcoking.com.cn/
FCMN Contact: susannah_robinson@cabot-corp.com
Source: Cabot Corporation
CONTACT: Ethel Shepard, Manager, Corporate Affairs, +1-617-342-6254, ethel_shepard@cabot-corp.com, or Susannah Robinson, Director, Investor Relations, +1-617-342-6129, both of Cabot Corporation
Web site: http://www.cabot-corp.com/ http://www.shcoking.com.cn/
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