Cabot Corporation Announces Start-Up of New Carbon Black Facility in Tianjin, China |
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Cabot Corp.
75 State St.
Boston, MA, 02109
USA
Press release date: August 18, 2006
BOSTON and TIANJIN, China, Aug. 18-- Cabot Corporation (NYSE:CBT) announced today the start-up of its new, world-class carbon black facility located in Tianjin, China. The state-of-the-art facility is a project of Cabot Chemical (Tianjin) Co., Ltd., an equity joint venture between a Cabot subsidiary, Cabot (China) Limited, and Shanghai Coking Chemical Company, a member of the Huayi Group. Cabot Chemical (Tianjin) Co., Ltd. invested approximately US$60 million to construct the plant with an annual capacity of 105,000 metric tons.
The new facility includes two production units that utilize the latest Cabot manufacturing technology incorporating advanced environmental systems for both energy recovery and flue gas de-sulphurization. Both new units are operating at full capacity to support the growing demand in the China market.
Cabot Chairman and CEO Kennett F. Burnes said, "Cabot is very pleased with the successful start-up of the 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 opening ceremony, Mr. Xinsheng Zhang, president of Cabot (China) Limited said, "Constructed in only 14 months, this greenfield project includes the latest environmental and energy-efficient technology. The successful construction and production startup of this state-of-the-art facility are the result of the project team's hard work and strong support from the Tianjin and TEDA governments."
"Effective execution of this project reflects the strength of our longstanding relationship with our partner, Cabot Corporation. We look forward to building on the success of this relationship," said Hu Gongming, chairman of Cabot Chemical (Tianjin) Co. Ltd. and Party Secretary of Shanghai Coking Co., Ltd. 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, cesium formate drilling fluids, and aerogel materials. The website address is: http://www.cabot-corp.com/.
Contact: Ethel Shepard Manager, Corporate Affairs 617-342-6254 ethel_shepard@cabot-corp.com
Susannah Robinson Director, Investor Relations 617-342-6129
Web site: http://www.cabot-corp.com/
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