BOSTON--(BUSINESS WIRE)--Cabot Corporation (NYSE: CBT) has released its 2013/2014 Sustainability Report Update detailing the company’s progress in creating economic, environmental and social value by addressing the needs of stakeholders worldwide. The update to the 2012/2013 Sustainability Report, entitled “Advancing,” outlines the company’s continuing efforts to drive innovation and advance its safety, health and environmental performance, while continuing to support customers, employees and communities all over the world.
“I am proud of the progress we have made to integrate sustainability into our business plans, products, operations and relationships with stakeholders,” said Cabot President and Chief Executive Officer Patrick Prevost. “Our continued success as a specialty chemicals and performance materials company depends on our ability to advance sustainability in a variety of forms, whether through creating scientific advancements in our labs, implementing energy efficiency processes at our plants, or improving the well-being of our employees and neighbors in the communities where we operate.”
Highlights from Cabot's sustainability report update, which covers calendar year 2013 and the beginning of 2014, include the following:
- Portfolio management: In 2013, Cabot expanded its carbon black manufacturing capacity through the acquisition of its partner’s equity stake in their Mexican joint venture, NHUMO. In addition, the company opened a new carbon black manufacturing facility in Xingtai, China. These efforts will help to ensure Cabot can meet the growing demand for carbon black throughout the world.
- Employee safety: Cabot successfully implemented the company’s safety standards throughout the Purification Solutions segment, as part of business integration process. As a result, the segment achieved a reduction in recordable incidents in 2013 over the previous year, as well as a reduction in the number of severe injuries.
- Environmental performance: Cabot remains committed to reducing its impact on the environment through continuous improvements in its operations. By the end of 2013, Cabot had achieved more than 40% of its goal to reduce energy intensity by 10% by 2020, using 2005 as a baseline year.
- Innovation: Cabot launched new products for a variety of applications including tires, silicones, environmental solutions and insulation materials. Cabot also continually develops and tests new products and processes in order to meet the demands and challenges of new applications and markets. Specifically, Cabot’s inkjet colorants team recently created a test bed for the high-speed commercial printing market.
- Community outreach: From January 2013 through May 2014, the Cabot Corporation Foundation and Cabot’s global locations donated or pledged approximately $2 million in direct and in-kind charitable contributions aimed at a wide range of programs.
“Cabot has long recognized the importance of sustainability and innovation and we continue to make progress,” said Martin O’Neill, senior vice president, Safety, Health and Environment. “We are committed to engaging with our employees and key stakeholders to achieve our sustainability goals and objectives.”
Cabot’s full 2012/2013 Sustainability Report is available at cabotcorp.com/sustainability.
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.