Cabot Corporation to Increase Prices Globally for Carbon Black Products Sold by its Specialty Carbons Business
BOSTON – September 28, 2020 – Effective for all shipments on or after November 1, 2020, or as customer contracts allow, Cabot Corporation will increase prices by up to 8% on all carbon black products sold by its specialty carbons business globally.
This price increase is necessary to address substantially increasing costs including specific input costs as well as operating costs driven by global, industry-wide strengthening of emissions compliance standards, including SOX and NOX air pollution controls in the United States, Phase IV of the EU Emission Trading scheme, and efforts throughout Asia to reduce pollution in accordance with local laws and permitting programs.
Cabot is an industry leader in sustainability and is committed to lessening its impact on the planet in alignment with its expanded set of 2025 Sustainability Goals. Taken together, these expenditures and the associated price increase will enable continued quality, reliability and supply security for Cabot’s customers and sustainability benefits for its employees, customers and communities.
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 carbon black, specialty carbons, activated carbon, elastomer composites, 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