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Cabot operatis with skeleton staff due to coronavirus pandemic

April 03/2020

MOSCOW (MRC) -- US carbon black producer Cabot (Boston, Massachusetts) apparently has to put restrictions in place, at least to a certain extent. The company says its coronavirus emergency plans have taken effect to ensure that only personnel critical to production are still working at its European and North American facilities, said Plasteurope.

However, a spokesperson told Plasteurope that there will be no allocations, as the company expects to have sufficient capacities to supply all customer requests.

CEO Sean Keohane is anticipating solid figures for the first quarter. The low demand in China between January and March was balanced out by strong order activity in the rest of the world.

However, due to the challenging situation in the next weeks as well as the accompanying insecurity in demand, Keohane has revised the full-year outlook, which had previously not taken the virus pandemic into account. He expects decreases in both sales and earnings in the third quarter, presumably among other things because of the falling oil prices that will reduce raw material costs Ц see of 19.12.2019.

Apart from the initiated takeover of carbon nanotube producer Shenzhen Sanshun Nano New Materials, which is set to be complete in April 2020, Cabot intends to reduce capital expenditures. Dividend payouts, however, will not be suspended.

Carbon black is used in plastics, among other things.

As MRC informed earlier, Cabot Corporation has announced a planned investment in new capacity to enhance its production capabilities for plastic formulations specifically for conductive compounds and masterbatches for engineering thermoplastic applications.

As MRC informed earlier, in February of this year, the index of production of chemicals in the Russian Federation grew by 9% compared with the same period a year earlier. Thus, the cumulative release for the first two months of 2020, the release of basic chemicals showed an increase of 6%, follows from Rosstat materials. According to the Federal State Statistics Service of the Russian Federation, the largest increase in production volumes in January - February came from polymers in primary form.

Cabot Corporation is an American specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company operates in over 20 countries with 36 manufacturing plants, eight research and development facilities and 28 sales offices.
Author:Anna Larionova
Tags:elastotermoplast, thermoforming, compounds, compounding, Cabot Corporation, Cabot Plastics.
Category:General News
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