MassEcon has announced that Cabot Corporation (NYSE: CBT), a global specialty chemicals and performance materials company, has been named among nineteen finalists from across the state for the Team Massachusetts Economic Impact Awards, awarded annually by MassEcon. The awards celebrate companies that have made an outstanding contribution to the Massachusetts economy. These finalists, representing companies from the Merrimack Valley to the Pioneer Valley, presented one-minute elevator pitches describing their growth in the Bay State to a panel of judges and business leaders on September 12, 2012 at the UMass Club in Boston. Secretary of Housing and Economic Development, Greg Bialecki, was the featured guest at the event.
“As the state makes its way through economic recovery, we’re thrilled to recognize the businesses in Massachusetts that are expanding such as Cabot Corporation,” said Susan Houston, Executive Director, MassEcon. “Our finalists demonstrate that growth in the Commonwealth is not limited to one region or one industry. We are fortunate to have such a diverse group of companies contributing to the prosperity of Massachusetts.”
Cabot Corporation was chosen because of its recent $10 million capacity expansion project at its Haverhill, Massachusetts, inkjet facility. This expansion resulted in a 30 percent increase in production staff and doubles the production capacity of Cabot’s CAB-O-JET® small molecule color and polymer-attached pigment dispersion lines. The project further supports Cabot’s growth in the emerging office segment of inkjet printing, and the commercial inkjet printing market.
“We are proud that our plant expansion and job creation have helped support Massachusetts’ economic health and has been recognized by MassEcon,” said Julie Planchet, general manager, Cabot inkjet colorants. “This expansion presents a new opportunity to further grow our inkjet business and meet our customers’ needs in growing markets such as commercial printing. It also showcases our commitment to continuing to grow in Massachusetts.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts