Cabot acquire remaining stake in Mexican carbon black JV

Cabot to acquire remaining stake in Mexican carbon black JV

5:37 AM, 18th June 2013
Cabot to acquire remaining stake in Mexican carbon black JV

BOSTON, US: Cabot Corporation has entered into an agreement with Grupo Kuo SAB de CV to purchase the remaining 60 per cent equity of its Mexican carbon black manufacturing joint venture, NHUMO, SA de CV, for $105 million, of which $80 million will be paid upon closing, excluding cash acquired. The acquisition of NHUMO will strengthen Cabot’s global carbon black business. This strategic asset in Mexico will also serve to meet the growing demand for carbon black throughout North America.

“This acquisition not only increases Cabot’s footprint in North America, but solidifies our global leadership position in the carbon black industry. This gives us expanded access to an important growth market in Mexico and immediate additional capacity to support the expansion of our customers in the US. Furthermore, it clearly demonstrates our ongoing commitment to delivering high quality products and services from local supply sources,” said Patrick Prevost, President and Chief Executive Officer, Cabot.

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