BOSTON—Cabot Corp. plans to raise prices globally for its specialty carbon products. The increase, which could be as high as 10 percent, takes effect Sept. 1.
Escalating costs associated with logistics, raw materials, environmental compliance and capital improvements have led the price increase, the firm said in an Aug. 1 statement. The move also will enable continued investment in the development of new products and applications to support customers.
In May, Cabot unveiled investment plans that would help to streamline operations and increase its global carbon black capacity by more than 300,000 metric tons globally.
The latest decision to increase prices also comes on the heels of a July 1 price increase that applied to all carbon black products within Cabot's Reinforcement Materials segment that are sold throughout Europe, the Middle East and Africa.