BOSTON and BEIJING, May 16 /PRNewswire-FirstCall/ -- Cabot Corporation(NYSE: CBT) announced today that its subsidiary, Cabot (China) Ltd., hassigned a joint venture agreement with the China National Bluestar Group tobuild a facility for the manufacture of fumed silica in China. The agreementwas signed in Beijing on May 16, 2008 and represents an expansion of therelationship between the two companies, which began with the construction ofChina's first state of the art fumed silica manufacturing facility in Jiangxiprovince in 2004.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000323/CABOTLOGO )
To expand the relationship, Cabot Bluestar Chemical (Tianjin) Co., Ltd,the new joint venture company, will invest approximately US $40 million tobuild Cabot's next world class fumed silica facility, with a manufacturingcapacity of approximately 7000 metric tons per year. The plant will belocated in Tianjin, China and will be commissioned in early 2010.
Patrick Prevost, Cabot's President and CEO said, 'China is an increasinglyimportant part of Cabot's global business. Our business and manufacturingexperience in China over the past 20 years has been extremely positive. TheBluestar Group has been a highly valued partner in our Jiangxi silica plant.Our new joint project in Tianjin will allow us to broaden this partnership.The expansion will build on the success of our other manufacturing facilitiesin Tianjin's rapidly developing Binhai New Area. Once commissioned, our newTianjin silica plant will be a long-term, reliable source of high qualitymaterials for Bluestar and other customers in and outside China.'
Ren Jianxin, founder of China National Bluestar Group and President of itsparent company ChemChina, said, 'We are pleased with the expansion anddeepening of our relationship with Cabot. This new facility, which will bebuilt in close cooperation between Cabot and Bluestar, will be state-of-the-art for fumed silica production and will be a great help to the growth of theChinese silicone industry.'
About Cabot Corporation
Cabot Corporation is a global specialty chemicals and materials companyheadquartered in Boston, Massachusetts, USA. Cabot's major products are carbonblack, fumed silica, inkjet colorants, capacitor materials, and cesium formatedrilling fluids. The Company's website is: http://www.cabot-corp.com.
About China National Bluestar (Group) Corporation
A leading chemical corporation in the areas of new chemical materials andspecialty chemicals, Bluestar owns 45 production facilities and 17scientific research institutes around the world, including a controllinginterest in three publicly listed companies, with businesses spanning 150countries and territories. Bluestar has pursued a strategy of mutualdevelopment with its business partners, meeting customer requirements forsafer and more environmentally friendly products and services throughconstant technological innovation. The Company's website is:http://www.china-bluestar.com.
SOURCE Cabot Corporation
