Cabot to Increase Prices for Rubber Carbon Black Products in North America

BOSTON – August 13, 2020 – Cabot Corporation will increase prices by $.03 per pound on all carbon black products sold by its Reinforcement Materials segment in North America, effective October 1, 2020, or as customer contracts allow.

This price increase is necessary to address the substantially increasing costs to provide reliability and supply assurance to customers as the industry rebounds from the COVID-19 crisis and experiences rising utilizations in line with long-term fundamentals. In particular, Cabot is investing in the range of $200 million for NOx and SOx reduction projects to meet US EPA requirements, with additional spending for operating expenses and ongoing sustaining and improvement projects. Cabot was the first manufacturer in the carbon black industry to reach an agreement with the EPA to minimize air emissions and is on track to meet upcoming industry deadlines in 2021 and 2022. Taken together, these expenditures and the associated price increase will enable continued quality and supply security for Cabot’s customers and sustainability benefits for its employees, customers and communities.

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Cabot Corp Reports Third Quarter Fiscal 2020 Results

BOSTON–(BUSINESS WIRE)–Cabot Corporation (NYSE: CBT) today announced results for its third quarter of fiscal year 2020.

Commenting on the environment, Cabot President and CEO Sean Keohane, said, “Clearly the COVID-19 pandemic has had a dramatic impact on most companies and Cabot was no exception. The scale of this disruption is unprecedented, but I am proud of the way our global team has managed through the crisis. We’ve taken proactive steps to protect our employees while continuing to operate our plants to meet the dynamic needs of our customers while also carefully managing cash.”

 

 

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Women in Tire & Rubber: Elif Duz

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Elif Duz is the sales manager for Turkey, the Middle East and North Africa for Cabot Corp.

I started my career in the plastics industry as a research and development intern for DuPont in Switzerland for six months and I continued as a marketing intern for DuPont in Turkey for another six months. After my studies finished in 2007, I …

Read the source article at Rubber and Plastics News

Elastomers for Sustainability Top 10

The top entries for the inaugural staging of ERJ’s new Elastomers for Sustainability initiative has now been decided by our judging panel led by leading experts in the field of polymer science & technology.

E4S is an industry-first sustainability initiative, designed to highlight significant advances for end-user sectors including automotive, tires, automotive components, construction, consumer, industrial and medical.

Read the source article at European Rubber Journal

Cabot Completes Placement of Air Emission Control Equipment

Cabot Corporation CBT recently announced a significant achievement in its project at Franklin, LA site in the United States. Management stated that the company received all its major emission control equipment and positioned the same for completion on site as of Jun 2020.

Notably, Cabot is the first carbon black manufacturer to partner with the U.S. Environmental Protection Agency (EPA) in conjunction with the national enforcement initiative of EPA to control air emissions from carbon black producing facilities.

Read the source article at finance.yahoo.com

TRAC Announces 100th Annual General Meeting’s Outcomes

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Cambridge, Ontario; June 11, 2020—Tire and Rubber Association of Canada announces the outcomes of its virtual 100th Annual General Meeting held on June 9, 2020.

 

AGM Outcomes:

1)     The members duly elected the Board of Directors and Officers:

 

Tony Mougios       Chair (Michelin North America (Canada) Inc.)

Maureen Kline       1st Vice-Chair (Pirelli Tire Inc.)

Paul Downey         2nd Vice-Chair (Pliteq Inc.)

Matt Livigni           Treasurer (Continental Tire Canada Inc.)

       

Neil Bansal             Western Rubber Group

Chris Bitsakakis     AirBoss of America Corp.

Paul Christou        Goodyear Canada Inc.

Keshav Das            BKT Tires (Canada) Inc.

Darious Naylor     Bridgestone Canada Inc.

Robert Rist             Cabot Canada Ltd.

 

2)     The Board moved to establish a new End-of-Life Tire Standing Committee. Led by Dr. Barry Takallou of CRM of Canada Processing, the Committee will manage all issues related to tire and rubber recycling.

 

3)     Following Glenn Maidment’s announced retirement at the end of 2020, the Board moved to set up a Search Committee which will manage the screening and interviewing of potential candidates for a new President.

 

About TRAC:

The Tire and Rubber Association of Canada (TRAC; www.tracanada.ca) is the national trade association representing the interests of tire and other rubber manufacturers and importers of rubber goods into Canada, together with rubber recyclers and suppliers whose goods or services directly relate to our industry. The Association was established in 1920 under the name The Rubber Association of Canada, only recently changing its name to the Tire and Rubber Association of Canada to more accurately reflect the Association’s role within the industry and what it does for its membership.

Contact: info@tracanada.ca

Cabot withdraws 2020 earnings guidance

Boston, Massachusetts – Cabot Corp. has withdrawn its financial guidance for fiscal year 2020 and is reducing planned capital expenditure in response to Covid-19 pandemic.

Despite a “solid” second quarter, ending 31 March, Cabot said it is withdrawing the outlook as future demand for the company’s products remain uncertain.

In addition, in order to maximise free cash flow, Cabot is looking to reduce previous plans for capital spending, said CEO and president Sean Keohane in a statement 30 March.

Read the source article at European Rubber Journal

Cabot cuts rubber-blacks production in Europe

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Boston, Massachusetts – Cabot Corp. has reduced rubber-black volumes in Europe in response to soft market conditions and “aggressive pricing,” the company has informed ERJ.

“We opted not to pursue certain contracts [in Europe] due to the pricing structure, meaning we do not have to manufacture for those contracts,” Cabot explained in a 19 Feb written statement.

Read the source article at European Rubber Journal

Cabot Corp (CBT) Q1 2020 Earnings Call Transcript

CBT earnings call for the period ending December 31, 2019. Feb 4, 2020 at 7:00PM …

Steve Delahunt — Vice President of Treasury and Investor Relations

Thank you, and good afternoon. I’d like to welcome you to the Cabot Corporation earnings teleconference. With me today are Sean Keohane, CEO and President; and Erica McLaughlin, Senior Vice President and CFO.

Last night, we released results for our first quarter of fiscal year 2020, copies of which are posted in the Investor Relations section of our website. 

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Cabot buys Chinese nanotube supplier for $115 million

On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.

Read the source article at Tyrepress