17 June 2013 15:45 [Source: ICIS news]
HOUSTON (ICIS)--Cabot plans to acquire Grupo Kuo's 60% stake in Mexican carbon-black producer NHUMO, the US-based company said on Monday.
Cabot will pay $105m (€79m) for Kuo's stake, the company said. The deal should close by autumn.
NHUMO's carbon-black plant is in Altamira, Mexico, and it has a capacity of 140,000 tonnes/year, Cabot said.
The acquisition will help Cabot meet growing demand throughout North America, the company said.
“Auto and tire manufacturers have been increasing capacity in the US and Mexico, which is driving demand for our high performance rubber black products," according to a statement by Dave Miller, president of Cabot's reinforcement materials segment. "Through this acquisition, we will be well positioned to support the growing demands of our North American customers.”
($1 = €0.75)
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