>>
Home / Knowledge / News / Textiles / Performance materials company Cabot to cut production

Performance materials company Cabot to cut production

11
Dec '08
Cabot Corporation announced that it expects to report significant volume declines for the first quarter of fiscal 2009 and is taking a series of aggressive actions to address continuing market challenges.

Patrick Prevost, Cabot's President and CEO stated, "Global weakness in the tire, automotive and construction industries, intensified by customer inventory reduction, is causing significant volume declines during the first quarter of fiscal 2009 in each of our major geographies. First quarter volumes in our Rubber Blacks, Performance Products and Fumed Metal Oxides Businesses are expected to be 20-30% lower than in the same period last year."

Prevost continued, "It is difficult to foresee how the remainder of the fiscal year will develop, but we expect that the lower first quarter volumes will have a considerable impact on the full year and we are preparing for an extended slowdown. In light of this, we have gone through a detailed review of our global operations and have developed a plan to reposition Cabot for these new market conditions. In addition to the current curtailments of as much as 40% of our production, we will implement operational and structural adjustments. These actions, which began in October of this year, are expected to yield in excess of $80 million of annualized costs savings for fiscal 2010. We will also reduce our capital spending by approximately $50 million versus fiscal 2008 and accelerate our aggressive working capital reduction projects."

"While the current market situation is sobering, we anticipate that our earnings and cash flows in the first half of fiscal 2009 will be helped by lower carbon black raw material costs. Cabot remains a strong company with leading global positions in our key businesses, robust financials and strong liquidity. We have substantial future growth opportunities, remain committed to our long-term technology projects and continue to invest prudently in our new businesses. All of these factors position us well to withstand these challenging times and emerge a stronger company," concluded Prevost.

The Company expects to announce earnings for the first fiscal quarter of 2009 on January 28, 2009 and discuss results with shareholders at its earnings teleconference on January 29th.

Cabot Corporation is a global performance materials company, headquartered in Boston, Massachusetts. Cabot's major products are carbon black, fumed silica, inkjet colorants, capacitor materials, and cesium formate drilling fluids.

Cabot Corporation


Must ReadView All

Pic: humphery / Shutterstock.com

Textiles | On 29th May 2022

Industrial profit growth in China slows in Jan-Apr 2022

Profit growth of major Chinese industrial companies slowed during...

Pic. Shutterstock

Textiles | On 29th May 2022

German minister says G7 nations to decarbonise energy sector by 2035

The countries belonging to the Group of Seven (G7) have agreed to...

Pic. Bold Metrics

Retail | On 29th May 2022

US’ Bold Metrics secures $8 million in Series A financing

Bold Metrics, the AI-first SaaS solution helping companies unlock the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Sanmugamagesh,

Sanmugamagesh

<font color="#303030" face="Open Sans, sans-serif">India-based The Chennai ...

Herve Orzech,

Herve Orzech

Centric Brands LLC is a leading lifestyle brand collective that designs,...

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Claudio Fracasso, FARÈ

Claudio Fracasso
FARÈ

Since 1970, Italy-based company FARÈ has been designing and manufacturing...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Bani Pasricha,  Label - Bani Pasricha

Bani Pasricha
Label - Bani Pasricha

An Indian fashion-designer and a recipient of one of the most prestigious...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

BRINKMANN GMBH
Palexpo SA
Landmark Group
Groz-Beckert East Asia LLP
Xtema - Thomas Lebherz Textilmaschinen
Haelixa AG
Phong Phu international JSC (PPJ)
Brückner Trockentechnik GmbH & Co. KG
Jindal Worldwide Limited
Under Armour Global Sourcing Ltd
Officina Meccanica Dora Enrico Srl
Brandix Lanka Limited
Thai Acrylic Fibre Company Limited
APLF Limited
PVH Corporation
BIMBA ;& LOLA SL
Colours India Inc
Chico’ FAS
THE BOMBAY DYEING ;& MFG.CO. LTD
The LYCRA Company Singapore  Pte. Ltd
Alix Partners
Lottmann Communications
Lululemon Athletica Inc
Equinox Impex India
FESPA (Reigate)
Marzoli Machines Textile s.r.l.
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
TESTEX AG, Swiss Textile Testing Institute
Rayonese Textile Inc., Division de Culp Inc.
Tchibo GmbH
Gap International Sourcing Limited
Istanbul Fuarcilik A.S.
Datatex Consulting Srl
Itema Weaving (India) Private Limited
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Woolmark Services India Pvt. Ltd.
Vianney Textil Hogar S.A. De C.V.
GIOVANNI BOZZETTO S.p.A.
Splash
Eastman Chemical Company
C;&A Sourcing International Ltd
Zydex Industries
Color Service s.r.l.
Stahl Holdings B.V.,
Varner AS Retail
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Lisa S.P.A.
Gloria Jeans
Bluestem Global Sourcing Limited
Messe Duesseldorf
Chori Company Limited
Sainsbury's Argos Asia Limited
Helly Hansen Far East Ltd
Comasia Limited
Vardhman Textile Ltd
FULGAR SpA
ITMA Services Pte Ltd
G-Star Raw C.V.
Desigual - ABASIC, S.A.
Esprit Europe Services GmbH
TÜYAP IHTISAS FUARLARI A.S.
Tuyap Tum Fuarcilik Yapim A.S.
IIGM Private Limited
TESCO INTERNATIONAL SOURCING LIMITED
Indofil Industries Limited - Specialty & Performance Chemicals Division
Flainox S.r.l.
Meera Dyestuff Industries
Green Fibre
Puma
X-Rite Asia Pacific Limited (HK)
Nandan Denim Limited
Messe Frankfurt Exhibition GmbH
Decathlon
Target Corporation (MN)
Etam Group Strategy Hong Kong Limited
Midas Clothing Limited
Lacoste (Wanchai)
JES MEDIA, INC
The Top Form Brassiere Manufacturing Company Limited
Guess Europe Sagl,
EPCH
Eurofins BLC Leather Technology Centre Ltd
Copenhagen Fashion Summit
The LYCRA Company Singapore  Pte. Ltd
Boardriders Asia Sourcing Limited
USTER
Alison Hayes Romania
Centric Software
Taiwan Textile Federation (TTF)
Restoque S.A.
Permoda(Koaj/Armi/Pronto/Bkul)
International Textile Manufacturers Federation
Kern – Liebers Textile
J ;& P Coats
Tradewind International Servicing
Jiangsu Yingyang Nonwoven Machinery Company Limited
OVS Hong Kong Sourcing Ltd.
Weitmann & Konrad GmbH & Co. KG
International Sourcing Expo Australia
Infor (Hong Kong) Limited
China World International Exhibition Company Limited
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Aleph Srl
Karl Mayer Textilmaschinenfabrik GmbH
SYNERGIES HONG KONG LIMITED
N9 World Technologies Private Limited
Datacolor AG Europe
Thai Trade Center
Grasim Industries Limited
DyStar India Pvt. Ltd
SHAHI Exports Pvt Ltd
GHCL LIMITED
Gokaldas Exports Limited
IKEA of Sweden AB
Calvin Klein
Huntsman (Singapore) Pte Ltd
IFF Media Ag - International Media Services
Abit
ZAITEX spa
Asos
NV Michel Van de Wiele
Reiter India Private Limited
Arvind Limited
Truetzschler India Private Limited
K AND D ITMACH EXPOSITIONS LLP
TEXVALLEY MARKET LIMITED
Rosset ;& Cia Limited
Shanghai  Aige Exhibition Service Co., Ltd
Aramark Uniform ;& Career Apparel, LLC
EUROVET ASIA LTD
VNU Exhibitions Asia
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Amazon China
BIANCA
Thermore (Far East) Ltd.
KAS Direct Sourcing
Zünd Systemtechnik AG
Seasalt Limited
MAS Active / MAS Kreeda / MAS Bodyline
G.A.S. unternehmenskommunikation gmbh
UBM China (Shanghai)
Kornit Digital Asia Pacific Ltd
H. Stoll AG & Company KG
Page Industries Limited (Bangalore)
Tommy Hilfiger
Sportmaster Ltd.
CGS Inc.
EMBEE CORPORATION
Pt. Peraga Nusantara Jaya Sakti
Hela Clothing Pvt Ltd
GERBER TECHNOLOGY LTD.
Recron Polyester from Reliance Industries Limited
Rieter India Private Limited
Nihalani Events Management
Cat Tuong Real Estate Group Joint Stock Company
Loris Bellini S.r.l.
KIABI
NITI Aayog
LC Waikiki
CSGIA(China Screen Printing & Graphic Imaging Association)
H;&M Hennes ;& Mauritz (Far East) Ltd
BTSR International S.P.A.
Groz-Beckert KG
Benetton Group
Maceton Limited
Sportswear Company Spa
Applied DNA Sciences Inc
Performance Days
Gatsby Africa
Mesdan SPA
Mayer & Cie. GmbH & Co. KG
Bluesign Technologies Ag
IDH – The Sustainable Trade Initiative
Italian Trade Commission
Savio Macchine Tessili S.P.A.
Indo Tex
Hirdaramani International Export Private Limited
T.T. Limited
John Varvatos
Lenzing Aktiengesellschaft
Tory Burch Hong Kong Ltd
Dow Silicones Corporation
Lenzing Aktiengesellschaft - India
Babyshop
Lectra Technologies India Pvt Ltd.
Inter Expo Center Ltd.
Sateri (Jiujiang) Fiber Co.,Ltd
COTTON COUNCIL INTERNATIONAL
Saurer Textile Solutions Pvt. Ltd.
Recron Polyester from Reliance Industries Limited
Coats Digital Limited
BTC Textiles LLC
Aquarelle Clothing Limited
Walmart
Shima Seiki Mfg. Ltd.
Newtech Textile Technology Development (Shanghai) Company Limited
DuPont de Nemours, Inc.,
Lifestyle

May 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search