Cabot Corporation Announces Price Increase For Specialty Carbon Black Products Manufactured In Europe
BOSTON – December 16, 2019 – Cabot Corporation announced that it will implement a price increase for specialty carbon black products manufactured in Europe, effective January 1, 2020 or as contracts allow. This price increase results from new low sulfur fuel regulations, which will be implemented in January 2020. The actual price increase will vary depending on the product and manufacturing plant.
Cabot’s specialty carbon blacks are produced from high quality, low sulfur feedstocks that are sourced from a similar pool as marine fuels. This market is undergoing significant change due to the 2020 International Maritime Organization (IMO 2020) fuel sulfur regulation, also known as MARPOL. The IMO 2020 regulations are already impacting the carbon black industry and are resulting in higher pricing for specialty carbon feedstock. Freight costs are also expected to increase for shipments from Europe to other regions.
Cabot recognizes that IMO 2020 will bring long-term benefits to the environment and human health, however it also introduces new costs across multiple industries.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
MEDIA CONTACT
Erin Anthony, Corporate Communications
erin.anthony@cabotcorp.com
+1.617.342.6257
Steve Delahunt, Investor Relations
steve.delahunt@cabotcorp.com
+1.617.342.6255