Cabot to Sell Supermetals Business
Cabot Corp. entered into an agreement to sell its Supermetals business to Global Advanced Metals (GAM) for a minimum of $400 million in total cash consideration. The transaction is subject to regulatory approval and is expected to close by the end of the calendar year. GAM is a global leader in the supply of tantalum ore, a raw material used by the Supermetals business in the manufacture of high-end products to the aerospace, electronics and other industries. Cabot will maintain its mining operation in Manitoba, Canada, where the company mines cesium for its Specialty Fluids Business and tantalum.