Cabot Corporation Celebrates 30 Years of Success and Development in China
SHANGHAI–(BUSINESS WIRE)–Today, Cabot
Corporation, a global leader in specialty chemicals and performance
materials, celebrated the 30th anniversary of its operations
and continued development in China. Over the past 30 years, Cabot has
achieved remarkable success in China by focusing on integration into the
local market. During this time, Cabot has invested nearly $700 million
in China, and revenue in the country currently accounts for nearly 20%
of Cabot Corporation’s total sales.
Deeply enrooted in China with in-depth cooperation
Founded in 1882, Cabot has a long history of global leadership and has
built a strong portfolio of high-performing specialty chemicals and
materials in businesses with leading market positions. Following China’s
economic reform and opening up of the country to foreign investment,
Cabot was one of the first multinational companies to invest in China.
In 1988, in an effort to support the growth of the local tire and
automotive market with the production of its specialized carbons, Cabot
established its first entity in China, Shanghai
Cabot Chemical Co., Ltd., with joint venture partner Shanghai Huayi
Energy Chemical Co., Ltd. (formerly Shanghai Coking & Chemical
Corporation). Today, Cabot and Shanghai Huayi will continue this legacy
of strong collaboration by signing an agreement to renew their joint
venture partnership for an additional 20 years. This clearly
demonstrates Cabot’s commitment not only to its cooperative
partnerships, but to continuing to grow and develop in the Chinese
market.
Over the past 30 years, Cabot has built a strong position in China with
highly competitive assets, strong and enduring partnerships and an
unrelenting commitment to the country. This commitment has allowed Cabot
to develop deep insights into the local market and become recognized as
the partner of choice by leading customers. Cabot currently has its Asia
Pacific Technology Center and Asia
Pacific regional headquarters in China. Over the past 10 years,
Cabot has achieved annual local production capacity growth of 20% with
its plants established in Shanghai, Tianjin, Jiangxi and Hebei. With
locations throughout China, Cabot can more easily deliver innovative
solutions and collaborate with its customers.
Responsible enterprise in pursuit of sustainable development
Cabot is intensely committed to integrating its technical capabilities
with sustainable business practices to ensure the safety of its
employees, customers, products, communities and the environment. Over
the past 30 years, Cabot has invested significant capital in process
equipment and infrastructure to maintain regulatory compliance, increase
energy efficiency and minimize its impact on the environment in China.
Specifically, it has employed state-of-the-art technologies for waste
water treatment, desulfurization, denitration and dedusting. Through
deep integration with its partners, Cabot has also developed systems to
utilize by-product waste streams to create sustainable, closed-loop
systems.
Cabot is dedicated to being a leader, promoter and practitioner of Responsible
Care, and has been highly recognized by local governments and
communities for its safety, health and environmental performance. Such
recognitions include:
-
The Shanghai plant is one of the first clean production pilot
enterprises in Shanghai, as well as the first carbon black enterprise
to receive ISO 14001 certification and the title of “clean production”
in China. -
The Tianjin
plant is the first chemical plant in China to achieve RC14001
certification, which demonstrates Cabot’s global commitment to the
principles of Responsible Care. -
The Jiangxi
plant has operated for 11 years with zero safety and environmental
incidents. -
The Xingtai
plant has achieved five million man-hour safe operation without any
recordable incident since its construction in 2011.
Advancing application innovation
Cabot recognizes that materials innovations will continue to drive and
enable advancements across a diverse set of applications. In 2017, Cabot
launched a new Asia
Technology Center in Shanghai to enable more efficient
collaboration, and innovation with our customers throughout Asia
Pacific. Through its experienced research and development team and
state-of-the-art technology, Cabot is bringing materials innovation to
market to meet the unique demands of its Chinese and Asian customers
across a wide range of applications.
Sean Keohane, president and chief executive officer, said, “Cabot’s
success over the past 30 years in China is due to our unyielding
commitment to the country, the tremendous efforts of our dedicated
employees, the trust and support of our customers and partners, and the
strong support from all levels of the Chinese government. Considering
China’s rising demand for transportation, infrastructure, energy and
housing, we see increased demand for our products to drive technology
innovation for the future. We will continue to invest in the Chinese
market to provide leading innovative solutions for our customers
throughout the Asia Pacific region.”
Jeff Zhu, president of the Asia Pacific region, said, “We have witnessed
Cabot’s successful development in China over the past 30 years, and are
proud of our achievements. However, we are fully aware of the challenges
ahead. Cabot will continue to extend our leadership in China by
providing value added products and services to customers, investing in
state of art facilities, and relentlessly leading sustainable
development throughout the chemical industry.”
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements in the press release regarding Cabot's business that
are not historical facts are forward looking statements that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward looking statements, see "Risk Factors" in the
Company's Annual Report on Form 10-K.
Contacts
Cabot Corporation
Vanessa Craigie, 617-342-6015
Corporate
Communications
