US chemicals company Cabot to buy Dutch carbon firm Norit
Friday 22 June 2012
US chemicals company Cabot Corporation has reached a $1.1bn deal to buy Dutch activated carbon maker Norit from its private equity owners.
Norit was acquired by a group of investors led by British private equity group Doughty Hanson & Co in 2007.
The buy 'strengthens Cabot's specialty chemicals portfolio with a non-cyclical, high growth and high margin business,' the US firm said in a statement.
Activated carbon is derived from charcoal and used in air and water purification, food and beverages, pharmaceuticals and catalysts.
Norit has 10 factories in North America and Europe and employs 760 people. Turnover reached $360m last year, Cabot said.