Cabot Corporation Completes Acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN)
April 01 2020 - 4:30PM
Business Wire
Cabot Corporation announced that it has completed its previously
announced acquisition of Shenzhen Sanshun Nano New Materials Co.,
Ltd (SUSN) for approximately $115 million. The business will be
integrated into Cabot’s Performance Chemicals Segment.
SUSN is a leading carbon nanotube (CNT) producer in China. The
acquisition significantly strengthens Cabot’s market position and
formulation capabilities in the high-growth batteries market,
particularly in China, which is the largest and fastest growing
electric vehicle market in the world. With this acquisition, Cabot
becomes the only carbon additive supplier with commercially proven
carbon black, CNT, carbon nanostructure and dispersion
capabilities.
“We are pleased to complete this acquisition and officially
welcome our new colleagues from SUSN to Cabot. We look forward to
collaborating with them to strengthen our global leadership
position in carbon additives,” said Jeff Zhu, senior vice president
and president, Performance Additives business. “The addition of
SUSN’s CNT technology complements our already strong portfolio of
conductive carbon products, and creates significant opportunity to
deliver new innovative formulated solutions for improved battery
performance for the rapidly growing energy-storage market.”
SUSN’s 2019 revenue was $28 million and the combination of
Cabot’s energy materials portfolio and SUSN will create a business
with approximately $50 million in revenue. Revenue is expected to
grow at a rate of 20-25% over the next five years from continued
growth in electric vehicles and other lithium-ion battery storage
applications, making this a meaningful part of Cabot’s portfolio of
specialty chemicals businesses.
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,
masterbatches and conductive compounds, fumed silica and aerogel.
For more information on Cabot, please visit the company’s website
at cabotcorp.com.
About Shenzhen Sanshun Nano New Materials Co., Ltd
(SUSN)
Founded in 2011 and headquartered in Shenzhen, China, SUSN is a
leading carbon nanotubes (CNTs) and dispersions producer that
supplies lithium-ion battery manufacturers both in China and
globally. SUSN has a wide range of products covering single-walled
CNTs, multi-walled CNTs and various blends to meet the
ever-increasing needs of the battery industry.
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 inherent in projecting future conditions, events and
results. Such forward looking statements include statements
regarding Cabot’s expectations pertaining to revenue growth over
the next five years in its energy materials portfolio and the
expected benefits of the acquisition. Such expectations are based
upon certain preliminary information, internal estimates and
management assumptions, expectations and plans. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200401005752/en/
MEDIA Erin Anthony, Corporate Communications
erin.anthony@cabotcorp.com +1.617.342.6257
Steve Delahunt, Investor Relations steve.delahunt@cabotcorp.com
+1.617.342.6255
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