TIANJIN, China & BOSTON--(BUSINESS WIRE)--Cabot Corporation (NYSE:CBT) will host an opening ceremony today for its new Tianjin masterbatch plant. Cabot announced the beginning of construction in February 2011 with plans to invest approximately US$20 million for the black masterbatch plant inside its Tianjin facility, a joint venture with Shanghai Coking and Chemical Corporation, a subsidiary of Shanghai Huayi Group Company, Ltd., with annual nameplate capacity of approximately 45,000 metric tons and expansion capacity to 80,000 metric tons in the future. Part of the world's largest rubber and specialty carbon black facility, this state-of-the-art plant includes the latest environmental and manufacturing technologies to ensure production of high-quality masterbatches.
"This world scale plant is a milestone for Cabot because it is the first fully integrated black masterbatch production plant with our carbon black production facilities,” said Patrick Prevost, Cabot president and chief executive officer. “We are excited about this new facility, not only because it's going to be the largest and most cost effective integrated facility, but also because it's going to improve the efficiency and the capability of the Tianjin operations. We appreciate the support of the Tianjin Economic Development Area and China governments in the continuing development of this facility."
Sean Keohane, vice president and general manager of Cabot’s Performance Segment said, "Having a local manufacturing facility producing high-quality products to serve our customers will be a significant strength for Cabot. The Tianjin masterbatch plant will supply product to a broad range of industries, from key infrastructure applications to the rapidly expanding automotive sector. This new plant will support the growth of our customers in the Asia Pacific region with performance materials for their demanding applications."
Chairman of Shanghai Huayi Group Company, Ltd., Jin Minda, stated, "During the past 23 years, we have partnered with Cabot on business opportunities from Shanghai to Tianjin and we have achieved much success together. Cabot brings the China market not only new products, but also the most advanced technologies. We look forward to further cooperation with Cabot and continued success with this latest masterbatch operation."
ABOUT CABOT CORPORATION
Cabot Corporation, headquartered in Boston, Massachusetts, USA, is a global specialty chemical and performance materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, aerogel, capacitor materials, and cesium formate drilling fluids. The company’s website is: www.cabot-corp.com.