GPX International Tire Corporation has appointed Kedar D Murthy as vice president of global OEM sales. Mr Murthy will be based in GPX’s headquarters, in Malden, Massachusetts. Kedar brings 18 years of experience in global sales and marketing, international business development, operations, eBusiness and finance.
Cabot Corporation’s enormous $60 million Tianjin, China carbon black factory is set to go online in March 2006, according to a report by Tianjin Daily.
Cabot Corporation has announced that it will build a new specialty carbon black unit at its plant in the Tianjin Economic and Technological Development Area (TEDA) in China. Cabot Performance Products (Tianjin), a joint venture with Shanghai Coking Chemical Company, will invest nearly $30 million in building the special unit that is set to have a capacity of approximately 20,000 tonnes. The unit is scheduled to begin production in the second half of 2006.
Cabot Corporation has announced it will build a carbon black plant with joint venture partner Shanghai Coking and Chemical Company to build a carbon black plant in Tianjin, China. The first production unit is scheduled to begin production in early 2006, with a capacity of 50,000 tonnes. The company plans to expand the plant’s production capacity later the same year.
“We are pleased with this expansion of our partnership with Shanghai Coking and Chemical Company and to be working with the Tianjin Economic and Technological Development Area to build a world class carbon black facility. We have confidence that this expanded capacity will position us well to supply the growing China market,” said William J Brady, executive vice president and general manager, Carbon Black.
Cabot Corporation has announced that its wholly-owned subsidiary, Cabot (China) Ltd., has signed a joint venture agreement with Bluestar New Chemical Materials Co., Ltd., a part of the China National Bluestar Group, to manufacture fumed silica in China.
Share values at Cabot Corp and Phelps Dodge fell dramatically after the world’s largest suppliers of carbon black said regulators were investigating whether they conspired to fix the price of the substance used to make tyres. ”We’ve been approached by the European Union and Department of Justice and we are co-operating fully,” Bruce Richardson of Phelps Dodge said. Artificially high prices for carbon black would increase costs for tyre manufacturers which use it to strengthen their products. Cabot’s shares fell $1.50, or 5.8 percent, to $24.17 in New York Stock Exchange composite trading. Phelps Dodge dropped $2.18, or 7.5 percent, to $26.72.
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