Cabot Corporation (NYSE: CBT) has closed the sale of its Security Materials business to SICPA for approximately $20 million in cash consideration, company officials announced today.
“We are pleased to have completed this transaction at an attractive value for our shareholders,” said Patrick Prevost, Cabot president and chief executive officer. “SICPA is a leading player in the security industry and we believe that SICPA will be able to expand and accelerate the future growth potential of the Security Materials business.”
The Security Materials business utilizes patented spray pyrolysis technology for brand protection activities and advanced nanotechnology for covert taggant applications. In fiscal 2013, the Security Materials business generated $7 million in revenue.
About Cabot Corporation
Cabot
Corporation (NYSE: CBT) is a global specialty chemicals and performance
materials company, headquartered in Boston, Massachusetts. The company
is a leading provider of rubber
and specialty
carbons, activated
carbon, inkjet
colorants, cesium
formate drilling fluids, fumed
silica, aerogel,
and elastomer
composites. For more information on Cabot, please visit the
company’s website at: http://www.cabotcorp.com.
Forward-looking statements
Safe
Harbor Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release involving the Company that are
not statements of historical fact are forward-looking statements and are
subject to risks and uncertainties. For a discussion of the risks and
uncertainties that could cause results to differ from those expressed in
the forward-looking statements, see "Risk Factors" in the Company's
Annual Report on Form 10-K.
Contacts:
Investor Contact:
Erica McLaughlin,
617-342-6090
