Cabot Corporation to increase prices for rubber carbon black products manufactured in North America
Cabot Corporation announced it will increase prices for all carbon black products sold by its Reinforcement Materials segment in North America, effective for all shipments on or after October 1, 2023, or as customer contracts allow. The price increase will range from 6% to 9%, depending on product and packaging type.
This price increase will address higher costs associated with continued inflationary impacts on manufacturing operations, including higher operating and maintenance costs needed to ensure a continuation of Cabot’s reliable and consistent supply of carbon black to its customers. In addition, the price increase will address additional costs to advance sustainability objectives for both Cabot and its customers.
Cabot is also investing in projects to meet government requirements to control air emissions from its carbon black manufacturing facilities in North America. The cost and complexity of Cabot’s manufacturing operations are increasing substantially as these large and highly technical systems are constructed and put into service.
Furthermore, Cabot is making significant investments in the development of new sustainable products and processes to respond to customers’ requests to increase sustainable material content and reduce their CO2 footprint. These include a pipeline of development projects supporting Cabot’s EVOLVE® Sustainable Solutions technology platform for advancing sustainable reinforcing carbons.
Collectively, these actions will enable Cabot to continue to supply its customers with industry-leading solutions while providing high levels of quality as well as the sustainability benefits its customers desire.