Cabot breaks ground on new carbon black plant
XINGTAI, China — Cabot Corporation and joint venture partner Risun Chemicals Company, Ltd., broke ground Tuesday on a new carbon black manufacturing facility in Xingtai, China.
The project, announced in March 2011, is scheduled to be completed in mid-2013.
Cabot and Risun are investing approximately $140 million in the new facility, with Cabot owning a 60 percent equity interest. In this mutually beneficial relationship, Cabot brings technology advancements and a strong leadership position in rapidly growing China while Risun provides the feedstock and energy integration capabilities with its current operations.
The new facility, located about 250 miles south of Beijing in Heibei Province, will help support tire and automotive growth in China.
"We''re committed to supporting China in achieving its goal of increased mobility, and we''re going to do it in a highly sustainable way," said Patrick Prevost, Cabot president and chief executive officer. "Our customers in China value us because we''ve established our technology leadership position in this industry over the past 20 years. We''re also investing significantly in process equipment and infrastructure to increase our energy efficiency and minimize our impact to the environment. Our new facility in Xingtai demonstrates this commitment."