Sale provides attractive value to shareholders
BOSTON--(BUSINESS WIRE)--Mar. 20, 2014--
Cabot
Corporation (NYSE: CBT) has entered into an agreement to sell its
Security Materials business to SICPA for approximately $20 million in
cash consideration. The Security Materials business utilizes patented
spray pyrolysis technology for brand protection activities and advanced
nanotechnology for covert taggant applications.
Headquartered in Lausanne, Switzerland, SICPA is the leading global
provider of security inks, authentication and traceability solutions and
services for banknotes, security documents and consumer products.
“We are pleased to have reached an agreement with SICPA at an attractive
value for our shareholders,” said Patrick Prevost, Cabot president and
chief executive officer. “The Security Materials business is a leader in
covert taggant technology. We believe that SICPA, as a leading player in
the security industry, will expand and accelerate the future growth
potential of this business.”
In fiscal 2013, the Security Materials business generated $7 million in
revenue. The acquisition is expected to close by the end of fiscal year
2014, pending regulatory approvals.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and
performance materials company, headquartered in Boston, Massachusetts.
The company is a leading provider of rubber
and specialty
carbons, activated
carbon, inkjet
colorants , cesium
formate drilling fluids, fumed
silica, aerogel,
and elastomer
composites. For more information on Cabot, please visit the
company’s website at: http://www.cabotcorp.com.
Forward-looking statements
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release involving the Company that are
not statements of historical fact are forward-looking statements and are
subject to risks and uncertainties. For a discussion of the risks and
uncertainties that could cause results to differ from those expressed in
the forward-looking statements, see "Risk Factors" in the Company's
Annual Report on Form 10-K.
Source: Cabot Corporation
Investor Contact:
Cabot Corporation
Erica McLaughlin,
617-342-6090
