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Cabot Shutters Capacity as Earnings Tumble

2:26 PM MST | January 29, 2009 | Nancy Seewald

Cabot Corp. says in response to a drop off in demand, it has decided to close four plants and one regional office over the course of 2009. Cabot reported net income of $4 million in its fiscal first quarter ended December 31, down 89% from the year-ago period. Sales fell 8%, to $652 million. Cabot cites “an unprecedented decline in demand” across the tire, automotive, and construction industries. Plants to be closed are Berre, France; Boyertown, PA; Dukinfield and Stanlow, U.K.; and its Kuala Lumpur office. Cabot also plans to mothball its Sarnia, ON...

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