Cabot buys CNTs maker
The Chinese subsidiary of Boston-based speciality chemicals and materials firm Cabot has agreed to acquire Shenzhen Sanshun Nano New Materials (SUSN) for about $115 million. The deal expected to close in Q2 of fiscal 2020.
SUSN is claimed to be the world’s second largest producer of carbon nanotubes (CNTs) and commissioned a new plant in China in November 2018 with enough capacity to support growth over the next several years. It will henceforth be part of Cabot’s Performance Chemicals segment.
Cabot said that this significantly strengthens” it in the batteries market, particularly in China, the largest and fastest growing electric vehicle market in the world. SUSN makes both dry powder CNTs and dispersions and is active in the lithium-ion battery market. Cabot already offers Vulcan-XC series carbon blacks, PBX carbon performance additives for advanced lead-acid batteries, LITX conductive additives for lithium-ion batteries and Athlos carbon nanostructures. This will make it the only carbon additive supplier with carbon black, CNT, carbon nanostructure and dispersion capabilities.