BOSTON and TIANJIN, China, Oct. 23 /PRNewswire-FirstCall/ -- Cabot Corporation (NYSE: CBT) announced today the commissioning of 150,000 metric tons of manufacturing capacity at its carbon black facility in Tianjin, China, bringing the plant's annual production capacity to nearly 300,000 metric tons. The state-of-the-art manufacturing facility is a project of Cabot Chemical (Tianjin) Co., Ltd., an equity joint venture between Cabot (China) Limited, and Shanghai Coking Chemical Company, a member of the Huayi Group. Cabot and Shanghai Coking have been joint venture partners since 1988.
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Commenting at the official ceremony marking the start-up, Cabot's President and CEO Mr. Patrick Prevost said, "Cabot is pleased with the successful start-up of this capacity. It makes Tianjin the largest and most technologically advanced carbon black manufacturing site in the world. The continued support of officials in China and the dedication of our highly skilled local workforce have made this possible. China is a key geography in Cabot's future growth and this facility is a critical asset to allow us to meet customers' strong demand for high quality carbon black products."
Dr. Xinsheng Zhang, Vice President and General Manager of Cabot's Asia Pacific region said, "This project includes the latest technologies for energy recovery and flue gas de-sulphurization. The successful construction and startup of this state-of-the-art capacity are the result of the project team's strong engagement and important support from the Tianjin and TEDA governments and our long time partner, Shanghai Coking. With its product quality and service, Cabot continues to create value for the China carbon black market."
Mr. Hu Gongming, Chairman of Cabot Chemical (Tianjin) Co., Ltd and Party Secretary of Shanghai Coking Co., Ltd. commented, "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."
Cabot Corporation, headquartered in Boston, Massachusetts, is a global performance materials company. Cabot's major products are carbon black, fumed silica, inkjet colorants, aerogels, capacitor materials, and cesium formate drilling fluids. The Company's website is: http://www.cabot-corp.com
Shanghai Coking & Chemical Corp was founded in 1958, and is one of the largest manufacturers of methanol and coke products in China. The Company's website is www.shcoking.com.cn
SOURCE Cabot Corporation
Susannah Robinson, Director, Investor Relations of Cabot Corporation, +1-617-342-6129, susannah_robinson@cabot-corp.com
