US Cabot to acquire activated carbon firm Norit for $1.1bn

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.

Norit operates 10 plants in the Americas and Europe. The company employs 760 people and had sales of $360m last year.

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)

By: Stefan Baumgarten
+1 713 525 2653

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