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.
Chemours has sold its methylamines business to Belle Chemical, an affiliate of Cornerstone Chemical. This has given a lifeline to the 57 workers at the site in Belle, West Virginia, and exemplified enduring interest in US-based chemical manufacture. Financial details were not disclosed.