Extends Raw Material Supply for Activated Carbon Production by 50
Years
BOSTON--(BUSINESS WIRE)--Nov. 3, 2014--
Cabot
Corporation (NYSE:CBT) announces the opening of its new mine in
Texas. This mine will produce lignite coal and supply Cabot’s adjacent
activated carbon manufacturing facility in Marshall, Texas for an
expected 50 years. Furthermore, it enables Cabot to continue to serve
its customers’ activated carbon needs for the purification of air, water
and food.
The mine is part of Cabot’s strategic plan to assure long-term supply of
high-quality activated carbon for the anticipated quadrupling of demand
by coal-fired utilities. The mine will be operated by Caddo Creek
Resources Company, a subsidiary of The North American Coal Corporation,
and will generate over 40 new jobs. The mine is operational as of
November 1, 2014 and is expected to produce lignite before the end of
the calendar year. In preparation for the new mine, Cabot purchased an 8
million pound dragline that provides an economic advantage over
traditional truck and shovel mining. The mine and dragline were
inaugurated in a ceremony on November 3.
“Today’s opening of the new mine is a significant milestone for Cabot.
We see this as not only a great opportunity for Cabot, but also an
opportunity for regional development,” said Patrick Prevost, president
and CEO, Cabot Corporation. “We have utilized lignite coal to produce
our high-quality activated carbon since 1921. With this latest strategic
investment, we are able to provide our customers with a strong assurance
that we can supply our own raw materials and further ensure that we can
provide superior, consistent and reliable solutions to meet our
customers’ purification needs. The mine affords us unparalleled supply
chain security and further extends our leadership position in the
mercury emission control segment.”
Across the U.S. and Canada, many states have implemented regulations and
standards to reduce mercury emissions as they can create environmental
and health issues. Specifically, it is expected that compliance with the
Mercury and Air Toxics Standard (MATS) in the U.S. that is scheduled to
take effect April 2015 will significantly boost demand for activated
carbon solutions as many coal-fired utility companies will use activated
carbon to reduce mercury emissions by up to 90 percent.
“This operation will provide a long-term, reliable supply of
high-quality lignite coal for Cabot to produce the finest activated
carbon products,” said Bob Benson, president and CEO of The North
American Coal Corporation. “This is yet another example of our unique
expertise in operating mines for our partners.”
As a leading supplier of activated carbon, Cabot is well positioned to
be a strategic partner to coal-fired power plant owners and operators in
mercury emission control today and in the future. Cabot is the only
activated carbon manufacturer with multiple manufacturing sites
dedicated to this application in North America, providing customers with
a consistent source of supply and supply chain reliability. Cabot offers
a full range of activated carbon services including rental systems,
carbon reactivation, bulk delivery and change-out, carbon evaluation, as
well as technical service and support to help customers meet their
specific purification needs.
In addition to its role as a technology leader in mercury removal from
flue gas, Cabot Norit Activated Carbon is recognized as the world’s
largest and most experienced producer of activated carbon, which is used
to remove pollutants, contaminants and other impurities from water, air,
food and beverages, pharmaceutical products and other liquids and gases
in an efficient and cost-effective manner.
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 and cesium
formate drilling fluids and has market-leading positions in fumed
silica, aerogel,
and elastomer
composites. For more information on Cabot, please visit the
company’s website at: http://www.cabotcorp.com.
About The North American Coal Corporation
The North American Coal Corporation, a subsidiary of NACCO Industries,
Inc. (NYSE:NC), mines and markets steam and metallurgical coal for use
in power generation and steel production and provides selected
value-added mining services for other natural resources companies. The
North American Coal Corporation’s corporate headquarters is located in
Plano, Texas near Dallas. North American Coal operates surface mines in
North Dakota, Texas, Mississippi, Louisiana and Alabama, and also
provides dragline mining services for independently owned limerock
quarries in Florida.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements in the press release regarding Cabot’s business that
are not historical facts are forward looking statements that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward looking statements, see “Risk Factors” in the
Company’s Annual Report on Form 10-K.
Source: Cabot Corporation
Cabot Corporation
Vanessa Craigie, 617-342-6015
Corporate
Communications
vanessa.craigie@cabotcorp.com
or
Hilary
Banda, 617-342-6264
Marketing Communications
hilary.banda@cabotcorp.com
