BOSTON—Cabot Corp. has announced an price increase of 3 cents per pound on all carbon black products sold by its reinforcement materials unit in North America.
Effective Oct. 1 or as customer contracts allow, the increase is necessary to address the substantially increasing costs, according to the company.
The measure will help to ensure supply as the industry rebounds from the COVID-19 crisis and experiences rising utilization rates, added the Aug. 13 statement.
In particular, Cabot noted its investment of $200 million in NOx and SOx reduction projects to meet the requirements of U.S. environmental regulations.
The company said it was on track to meet upcoming industry deadlines in 2021 and 2022 for the reduction of emissions to air.
The new price increase, Cabot said, "will enable continued quality and supply security for Cabot's customers and sustainability benefits for its employees, customers and communities."