Cabot Corporation Completes Acquisition of Tokai Carbon (Tianjin) Co., Ltd Carbon Black Plant in China
The acquisition expands Cabot’s manufacturing capacity to support the growth of its Battery Materials product line, while continuing to serve existing carbon black customers. The site can currently produce up to 50,000 metric tons of carbon black annually. As conductive carbon additives play a key role in battery chemistry and performance, Cabot plans to invest to upgrade the capabilities of the site to produce battery grades to support the rapid development and growth in lithium-ion batteries driven by increased electrification of the vehicle fleet.
“Lithium-ion batteries is one of the fastest growing end markets, and our customers value us as a strategic partner and industry leader in conductive carbon additives. This acquisition directly aligns with our strategy to invest for advantaged growth while developing innovative products and processes that enable a more sustainable future,” said Cabot President and Chief Executive Officer
Cabot will also invest in advanced environmental controls to continue to operate responsibly and in compliance with local regulations, while actively working to reduce its own impact. The first phase of upgrades and conversion to battery materials is anticipated to be completed by early 2024.
ABOUT TOKAI CARBON CO., LTD. (TOKAI CARBON)
Founded in 1918 and headquartered in
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release involving the Company that are not statements of historical fact are forward-looking statements and are subject to risks and uncertainties inherent in projecting future conditions, events, and results. Such forward looking statements include statements regarding Cabot’s expectations pertaining to the timing of plant upgrades and conversion to battery materials. Such expectations are based upon certain preliminary information, internal estimates and management assumptions, expectations, and plans. For a discussion of the risks and uncertainties that could cause results to differ from those expressed in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.