(NYSE: CBT) has entered into an agreement to sell its Security Materials business to SICPA for approximately $20 million in cash consideration. The Security Materials business utilizes patented spray pyrolysis technology for brand protection activities and advanced nanotechnology for covert taggant applications.
Headquartered in Lausanne, Switzerland, SICPA is the leading global provider of security inks, authentication and traceability solutions and services for banknotes, security documents and consumer products.
“We are pleased to have reached an agreement with SICPA at an attractive value for our shareholders,” said Patrick Prevost, Cabot president and chief executive officer. “The Security Materials business is a leader in covert taggant technology. We believe that SICPA, as a leading player in the security industry, will expand and accelerate the future growth potential of this business.”
In fiscal 2013, the Security Materials business generated $7 million in revenue. The acquisition is expected to close by the end of fiscal year 2014, pending regulatory approvals.
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
cesium formate drilling fluids
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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. 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.