Cabot Corporation to Increase Prices in EMEA for Carbon Black Products Sold by its Reinforcement Materials Segment
Concurrently Implementing Feedstock Surcharge
BOSTON – June 22, 2022 – Cabot Corporation (NYSE: CBT) will increase prices for all carbon black products sold by its Reinforcement Materials segment in the Europe, Middle East and Africa (EMEA) region, effective for all shipments on or after August 1, 2022, or as customer contracts allow. These products include BLACK PEARLS®, CRX®, ENDURE®, PROPEL®, REGAL®, STERLING®, SPHERON®, and VULCAN® carbon black grades from Cabot’s tire and industrial products business lines. The price increase will vary by grade and source.
This price increase is necessary as a result of significantly higher demand for these products and to recover increased costs for running smooth and efficient operations, logistics, supply chain, and packaging in the region.
Cabot will also increase the feedstock surcharge applied to all carbon black products sold by its Reinforcement Materials segment in EMEA, effective for all shipments on or after August 1, 2022, or as customer contracts allow. This adjustment is necessary to reflect ongoing changes in the EMEA energy markets, which are impacting availability, quality, and logistics costs of feedstocks.
Furthermore, due to the extraordinary rise in working capital due to high feedstock and natural gas costs, payment terms extended to EMEA Reinforcement customers will be limited to a maximum of thirty days, effective for all shipments on or after August 1, 2022, or as customer contracts allow.
Collectively, these actions will enable Cabot to remain a reliable, long-term supplier of high-quality products and services. It will also enable Cabot to continue to invest 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 rubber and specialty carbons, engineered 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.
# # #
Forward-Looking Statements
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. 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.