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 has withdrawn its financial guidance for fiscal year 2020 and is reducing planned capital expenditure in response to Covid-19 pandemic.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. 

Read the source article at Fool.com

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

Cabot starts first phase of $100m Indonesian expansion

Boston, Massachusetts – Cabot Corp. has broken ground on an expansion project at its carbon black manufacturing plant in Cilegon, Indonesia, the company announced 21 Nov.

The phase 1 of the project will add 80 kilotonnes per annum (ktpa) of capacity at the site, which produces rubber black grades within Cabot’s reinforcement business.

The product, said Cabot in a written statement to ERJ, is primarily used for tire applications.

Read the source article at European Rubber Journal

Cabot reports lower profits in challenging environment

Boston, Massachusetts – Cabot Corp. has posted a 4.8% decline in earnings for its reinforcement materials segment for the financial year ended 30 Sept, due mainly to the challenging Chinese business environment.

Earnings for the segment, which supplies rubber and speciality carbon blacks for the rubber and plastics industries, fell to $266 million (€240 million) during the 12-month period, on 22.5% higher sales of $1.8 billion, Cabot reported 5 Nov.

Read the source article at European Rubber Journal

Cabot exec sees limits on use of rCB in tires

London – There are major technical challenges to overcome before recycled carbon black (rCB) can be used as an effective alternative filler in tire compounds, believes Bart Kalkstein, president, reinforcement materials at Cabot Corp.

It is important to consider all available opportunities for tire recycling, Kalkstein set out in a Q&A interview for a new ERJ Special Report on Sustainability.*

Read the source article at European Rubber Journal

Tire & Rubber Summit 2019: Suppliers ready to overcome tire industry challenges

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TORONTO—Raw material suppliers face various challenges in providing tire makers with the quality and quantity of materials they need. But they are more than prepared to meet those challenges.

This was the message representatives from three raw materials sectors—carbon black, natural rubber and synthetic rubber—had for attendees at “Driving to the Future,” the 2019 Tire & Rubber Summit sponsored by the Tire and Rubber Association of Canada.

Read the source article at Rubber and Plastics News

Cabot eyes elastomer composites expansion in Malaysia

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KUALA LUMPUR, Malaysia—Cabot Corp. has reviewed long-term growth plans for its composite elastomers in Port Dickson, Malaysia, with the Malaysian Investment Development Authority.

The Boston-based company has been carrying out liquid mixing of elastomer composites at the site since 1995 and was under a 10-year exclusive technology license with Michelin until recently. In 2017, Cabot announced an investment to expand the elastomer composites product line to serve a broader customer base.

Read the source article at Rubber and Plastics News

Cabot to expand elastomer composites facility in Malaysia

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Representatives from Cabot Corporation’s elastomer composites leadership team recently met with members of the Malaysian Investment Development Authority about Cabot’s long-term growth plans in Port Dickson, Malaysia. In 1995, Cabot built the world’s first facility dedicated to liquid mixing of elastomer composites in Port Dickson and has continued to develop this revolutionary technology at that site.

Read the source article at Rubber Asia