Cabot Corporation (NYSE: CBT) announced that it has completed its acquisition of the equity stake owned by Grupo Kuo S.A.B. de C.V. (KUOB.MX) in its Mexican carbon black manufacturing joint venture, NHUMO, S.A.de C.V.
“Mexican tire and auto production is expected to grow approximately 5 percent or more over the next several years and will create long-term growth in the demand for rubber blacks in the region,” said Dave Miller, president, Reinforcement Materials Segment. “The acquisition of NHUMO allows us to build on our industry position, while continuing to deliver high-quality, reliable products to meet the demands of customers throughout the U.S. and Mexico.”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 rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, aerogel, and elastomer composites. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com. Forward-Looking Statements 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 inherent in projecting future conditions, events and results. Such forward looking statements include statements regarding Cabot’s expectations pertaining to the timing of completion of the acquisition, the expected benefits of the acquisition and Cabot’s future financial performance, including expectations for growth. Such expectations are based upon certain preliminary information, internal estimates and management assumptions, expectations and plans. 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. Use of Non-GAAP Financial Measures The preceding discussion includes a discussion of our future expectations for adjusted earnings per share (EPS), which is a non-GAAP financial measure. In calculating adjusted EPS, we exclude certain items of expense and income that management does not consider representative of the Company's ongoing operations, which will include advisor fees associated with the acquisition and purchase accounting adjustments. Adjusted EPS should be considered as supplemental to, and not as a replacement for, EPS determined in accordance with GAAP.
Adjusted EBITDA for the joint venture is a non-GAAP financial measure and refers to earnings before interest, taxes, depreciation and amortization, excluding items that management does not consider representative of the fundamental operating results.