21 June 2012 13:13 [Source: ICIS news]
HOUSTON (ICIS)--Cabot has agreed to acquire activated carbon firm Norit for $1.1bn (€869m) to strengthen its specialty chemicals portfolio, the US-based producer said on Thursday.
“This acquisition supports the ongoing transformation of our portfolio to a higher margin, less cyclical, specialty chemicals focused company,” said Cabot CEO Patrick Prevost.
Cabot is acquiring Netherlands-based Norit from investment firms Doughty Hanson and Euroland Investments.
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Cabot expects to close the deal later this year, subject to regulatory approvals and consultations at Norit’s Dutch works council, it said.
($1 = €0.79)
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