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CABOT CORP (CBT)
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Cabot Corporation and Dow Celebrate Groundbreaking of New Manufacturing Plant; New state-of-the-art facility extends Cabot's long-term relationship with Dow

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10/04/2017 | 02:46pm CET

Release date- 03102017 - Sean Keohane, president and chief executive officer of Cabot Corporation (NYSC:CBT) and Howard Ungerleider, chief financial officer of DowDuPont (NYSE:DWDP) joined more than 150 local officials, business leaders and community members today to celebrate the groundbreaking of Cabot's world-class, fumed silica plant located adjacent to Dow's Carrollton site in western Kentucky. The official ceremony was held in the presence of local government representatives and other business leaders at the site of the new facility. The groundbreaking coincides with the 50th anniversary of the Dow site in Carrollton and celebrates the Company's history of innovation through silicones chemistry.

Announced in May 2017, the new manufacturing facility is scheduled to be operational by 2020, and will extend Cabot's long-term relationship with Dow while furthering Cabot's position as a leading producer of fumed silica. Upon completion, the plant will incorporate Cabot's latest technology advances into the plant design and operations. Additionally, the collocation enables a fence-line relationship with Dow, creating a closed-loop system that reduces transportation risks, increases manufacturing efficiencies and reduces waste.

'This is wonderful news for the Carrollton community and the region, as we welcome new manufacturing and celebrate 50 years of innovation,' said Kentucky Gov. Matt Bevin. 'Both of these companies, Cabot and Dow, bring a rich history of excellence to our state and a proud tradition of community and employee support.'

Dow and Cabot have developed a cooperative relationship as both supplier and customer to each other over the last 30 years, with current neighboring operations in Midland, Michigan, U.S.A. and Barry, Wales, United Kingdom. Silicone products made at the Dow site are used by Cabot as a building block for producing fumed silica, an ultra-fine, high-purity particle used as a performance additive in a broad range of applications. Dow, in turn, uses Cabot's fumed silica in its silicone products as well as by-product from Cabot's process in its operations.

'We are proud to be a long-standing business partner and corporate citizen in Carrollton, and we are excited to recommit to the site and the community today with the groundbreaking of the new Cabot plant,' said Ungerleider. 'The facility will provide a long-term supply of high quality fumed silica to Dow for use in applications for fast growing end-markets, including packaging and construction, and will support sustainable growth for Dow, Cabot and for northern Kentucky.'

'This is yet another example of our corporate strategy at play as we continue to invest and strengthen our core market capabilities,' said Keohane. 'This is a great day for Cabot as we expand our presence in North America by building adjacent to our longtime partner Dow in Carrollton. As leaders in our respective industries with a shared commitment to manufacturing and safety, health and environmental excellence, collocation in Carrollton was a natural fit. We look forward to bolstering our partnership, the local economy and community with our new operation.'

About Cabot Corporation

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, masterbatches and conductive compounds, fumed silica, and aerogel. For more information on Cabot, please visit the company's website at: http://www.cabotcorp.com.

About DowDuPont Materials Science Division

DowDuPont Materials Science, a business division of DowDuPont (NYSE: DWDP), combines science and technology knowledge to develop premier materials science solutions that are essential to human progress. The division has one of the strongest and broadest toolkits in the industry, with robust technology, asset integration, scale and competitive capabilities that enable it to address complex global issues. DowDuPont Materials Science's market-driven, industry-leading portfolio of advanced materials, industrial intermediates, and plastics businesses deliver a broad range of differentiated technology-based products and solutions for customers in high-growth markets such as packaging, infrastructure, and consumer care. DowDuPont intends to separate the Materials Science Division into an independent, publicly traded company. More information can be found at www.dow-dupont.com.

For further information contact:

Jarrod Erpelding

Media Relations

The Dow Chemical Company

+1 (989) 633.1863

[email protected]

Vanessa Craigie

Director, Corporate Communications

Cabot Corporation

+1 (617) 342 6015

[email protected]

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials ($)
Sales 2018 2 891 M
EBIT 2018 380 M
Net income 2018 234 M
Debt 2018 744 M
Yield 2018 2,27%
P/E ratio 2018 15,29
P/E ratio 2019 13,71
EV / Sales 2018 1,49x
EV / Sales 2019 1,43x
Capitalization 3 568 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 66,5 $
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Sean D. Keohane President, Chief Executive Officer & Director
John F. O'Brien Non-Executive Chairman
Eduardo E. Cordeiro CFO, EVP & President-Americas Region
Nirmalya Maity Chief Technology Officer
Roderick C. G. MacLeod Independent Director
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