ERJ staff report (RD)
Boston, Massachusetts -- Carbon black producer Cabot Corp. has reported sales of $712 million in the second quarter of 2010 (Q2), up from $470 million for the same period last year.
Q2 profitability in Cabot's Rubber Blacks Business increased by $56 million when compared to the same quarter of fiscal 2009. Volumes increased by 28 percent globally, â€œdriven by improved demand in the tyre and automotive markets,â€ a 28 April company statement said.
Volumes in Asia Pacific and China increased by 50 percent over the Q2 2009, South America by 31 percent, North America by 14 percent and Europe, Middle East, Africa by 8 percent, Cabot added.
â€œCabot's second quarter results confirm the momentum of demand recovery and robustness of our business across all segments,â€ said Cabot ceo, Patrick Prevost. â€œOur overall efforts in the key strategic areas of margin improvement, emerging market expansion and new business development were instrumental in this strong performance.
According to Prevost, market demand stabilised slightly ahead of first quarter 2010 levels with emerging markets continuing to show significant strength. â€œNew emerging market capacity and technology investments in energy recovery and yield enhancement are contributing positively to our results,â€ he said, adding, â€œOur focus over the past eighteen months on our highest value new business opportunities has yielded a significant improvement in the segment's financial performance."
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Press release from Cabot Corp.