CALGARY, Alberta—The sale of Cancarb Ltd. to Tokai Carbon Co. Ltd. was successfully completed on April 15.
Cancarb was previously owned by TransCanada Corp., which originally acquired the company in 1981.
TransCanada Corp. reportedly sold Cancarb and its related power generation facility to Tokai Carbon for $190 million.
“We expect a seamless transition,” said Dave Petrie, president of Cancarb.
“All of our employees have been retained and we will be continuing to provide our Thermax thermal carbon blacks with the quality, service, availability and reliability our customers expect.”
Petrie said Cancarb looks to leverage Tokai's experience in the carbon black industry as well as its commitment to research and development.
“We are confident with this transaction that Cancarb will achieve the next level of production, application and product technology,” Petrie said.
Cancarb produces and markets thermal carbon black with customers in 44 countries. Tokyo-based Tokai Carbon Co. Ltd. is focused on carbon related products and services, including carbon black and graphite.