Cabot to sell supermetals subsidiary

ERJ staff report (DS)

Boston, Massachusetts -- Cabot Corp. is to sell its Supermetals business to Global Advanced Metals ("GAM") for a minimum of $400 million in total cash consideration, company officials announced. The transaction is subject to regulatory approval and is expected to close by the end of the calendar year.

The business is unrelated to the rubber industry, but is a sign that Cabot may be focussing more closely on its core carbon black business.

In its 2010 annual report, Cabot said its supermetals business generated sales of $177 million, while the rubber blacks business generated sales of $1677 million

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Press release from Cabot