By Patrick Raleigh ERJ On-line news editor
Shanghai, China-Cabot Corp. has completed a 50-kilotonne-per-annum (ktpa) expansion of its carbon black plant in Shanghai, and formed a holding company to manage its business in China. Cabot will also build a laboratory in Shanghai to support its customers in the Asia Pacific region, the company said 4 Feb.
The plant is operated by Shanghai Cabot Chemical Co. Ltd, a joint venture between Cabot, which owns 70 percent of the equity, and Shanghai Coking Co. Ltd. The expansion brings the capacity of the Shanghai facility to around 130 ktpa, according to Cabot.
Meanwhile, Cabot has established a new holding company, called Cabot (China) Ltd, to manage all of its investments, businesses and resources in China, the US group also announced.
â€œWe see the plant expansion and new holding company as important steps for growing our business in China,â€ said Kennett Burnes, Cabot chairman and CEO, in a speech at the official opening of the Shanghai facility.
â€œCabot has had operations in China for more than a decade. Our experience in China has been positive and it has increased our desire to be more actively involved in the Chinese market,â€ Burnes added in a press statement.