Cabot buys Showa Denko's shares in Japanese carbon black JV
By David Shaw, ERJ staff
TOKYO -- Cabot Corp. has announced that one of its wholly owned subsidiaries is to acquire all the outstanding shares in Showa Cabot K.K. from its partner, Showa Denko. Showa Cabot is a 50:50 joint venture between the two companies and makes carbon black at two plants in Japan with combined capacity of 150 kt/year.
In a statement, Cabot said, "Wholly-owned Cabot subsidiary, Cabot International Capital Corporation (CICC), has entered into an agreement with Showa Denko K.K. pursuant to which CICC will become the sole owner of Showa Cabot K.K."
The statement continued, "Takeshi Mimura, Showa Cabot's President, will continue to lead Showa Cabot. Following the transaction, which is expected to close in November 2005, Showa Cabot will be renamed Cabot Japan K.K.
"This transaction will allow us to strengthen our relationships and technical ties with the growing and influential Japanese global tyre and industrial products companies," said Bill Brady, Executive Vice President and General Manager of Cabot's carbon black business.
According to ERJ figures, Showa Cabot operates one plant in Ishihara (Chiba province) with capacity of about 100 kt/year and a second unit in Shimonseki (Yamaguchi Province) with capacity of about 50 kt/year.