Cabot Corporation to Reduce Activated Carbon Manufacturing Capacity in Marshall, Texas
“This decision will enable us to adapt to present market conditions in
The decision, that will affect approximately 40 local employees, was
driven by the need to better match the business’s production capacity
and cost structure with the current demand for powdered activated carbon
in
“Business decisions that directly impact the lives of our employees are
always difficult, and we are sensitive to the effect this has on our
employees, their families and the community,” said
Cabot expects this action plan will result in a pre-tax charge to
earnings of approximately
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains “forward-looking statements” under the Federal securities laws. The forward-looking statements address expectations or projections about the future, including our expectations concerning the amount of the pre-tax charge to earnings we expect to record, the cash outlays we expect to make, and the amount of annual savings we expect to achieve from this action. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, potentially inaccurate assumptions, and other factors, some of which are beyond our control or difficult to predict. If known or unknown risks materialize, our actual results could differ materially from those expressed in the forward-looking statements. 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.
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Source:
Cabot Corporation
Vanessa Craigie, 617-342-6015
Corporate
Communications