Cabot corporation completes acquisition of NHUMO.
NHUMO is the leading carbon black producer in Mexico, and the acquisition of Kuo's NHUMO interest strengthens Cabot's global carbon black business. The NHUMO business will be integrated into the company's Reinforcement Materials Segment. Under the terms of the agreement. Cabot will pay $105 million, of which $80 million was paid upon closing. In addition, at closing, a special dividend payment will be paid to NHUMO shareholders, of which Cabot will receive $14 million. This strategic business in Mexico will also serve to meet the growing demand for carbon black throughout North America.
Since 1990, Cabot has owned approximately 40% of the NHUMO joint venture. The NHUMO facility in Altarnira, Mexico is Cabot's 19th carbon black plant globally, and adds an annual carbon black manufacturing capacity of 140,000 metric tons. Cabot is one of the world's leading producers of carbon black and its global annual capacity now exceeds two million tons.
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|Title Annotation:||industry news|
|Date:||Jan 1, 2014|
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