Cabot

(CBT) - Get Report

said Friday its carbon black facility in Tianjin, China, began operations.

The facility is a project of Cabot Chemical (Tianjin), a joint venture between Cabot and Shanghai Coking Chemicals, a member of the Huayi Group.

The Boston-based company invested about $60 million to construct the plant with an annual capacity of 105,000 metric tons of carbon black.

The new facility includes two production units that utilize the latest cabot manufacturing technology incorporating advanced environmental systems for both energy recovery and flue gas de-sulphurization.

"Working together with the highly skilled local workforce and with the continued support of local officials in China, we are committed to supplying high-quality carbon black products to meet customers' growing demand," the company said.

The shares of the company were trading at $32, down 14 cents, Friday.

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