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Chemical Week Magazine :: Top of the Week
Cabot Sells Tantalum Business for $400 Million
12:09 PM MDT | August 29, 2011 | —ROBERT WESTERVELT
Prevost: Cash could fund acquisitions. Cabot has agreed to sell its Supermetals unit, primarily a maker of tantalum and alloys, to Global Advanced Metals (GAM; Perth, Australia) for $400 million. GAM is a leading supplier of tantalum ore. Cabot’s Supermetals business posted 2010 sales of $177 million, roughly 6% of Cabot revenues, and operating profit before tax of $35 million. Supermetals earnings have been volatile, and the business posted slight losses in 2008 and 2009. The deal is expected to close by the end of the year. “We believe that the...
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