Cabot Corporation to Increase Prices Globally for Carbon Black Products Sold By Its Specialty Carbons Business
BOSTON – Sept. 28, 2023 – Effective for all shipments on or after November 1, 2023, or as contracts allow, Cabot Corporation (NYSE: CBT) will raise prices globally by up to 9% for carbon black products sold by its specialty carbons business. This price increase will address higher costs associated with continued inflationary impacts on manufacturing operations, including higher operating and maintenance costs. It will also address environmental compliance costs associated with Cabot's continued investment in necessary technology controls to comply with enhanced environmental regulations at its specialty carbons manufacturing facilities. The increase will vary by product and geography.
This increase will help ensure that Cabot remains a reliable, long-term supplier of high-quality products and services. Additionally, it will enable continued investment in the development of new products and applications to support its customers.
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 reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides 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 for the fiscal year ended September 30, 2020.