Cabot Corp. Announces Intention to Close Italy Masterbatch Plant
BOSTON, Oct 25, 2010 /PRNewswire via COMTEX/ -- Cabot Corporation (NYSE: CBT) announced that it intends to cease manufacturing at its masterbatch facility in Grigno, Italy effective February 28, 2011.
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The decision was made as a result of a broad reaching analysis aimed to align the Company's manufacturing capabilities with the business strategy and market growth opportunities. An in-depth assessment of customer requirements and the competitive landscape relative to Grigno's cost structure, technology capability and scalability, among other factors, led to the decision.
The company remains committed to providing high quality masterbatch products to its customers and will work closely with customers to service them from our network of production facilities.
Cabot Corporation, headquartered in Boston, Massachusetts, is a global specialty chemicals performance materials company. Cabot's major products are carbon black, capacitor materials, fumed silica, cesium formate drilling fluids, inkjet colorants and aerogels. The Company's website address is: http://www.cabot-corp.com/.
SOURCE: Cabot Corporation