World News and Views :: Top of the News
Cabot Shutters Capacity as Earnings Tumble
2:27 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...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee