Ashurst advised long standing client Cabot China on the acquisition of Tokai Carbon Tianjin
26 November 2021
26 November 2021
Global law firm Ashurst represented Cabot China Limited, a wholly-owned subsidiary of Cabot Corporation (NYSE:CBT), on its the acquisition of 100% equity interest in Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Co., Ltd, a market leading high-quality carbon and graphite producer with over 100 years of history in Japan.
Tokai Carbon (Tianjin) operates a carbon black manufacturing facility in Tianjin which was commissioned in 2006 and is located in close proximity to Cabot’s current carbon black and specialty compounds facility in Tianjin, China. The acquisition is expected to support the growth of Cabot’s Battery Materials product line, while continuing to serve existing carbon black customers.
Cabot is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, masterbatches and conductive compounds, fumed silica, and aerogel.
Founded in 1918 and headquartered in Tokyo, Japan, Tokai Carbon has for over 100 years been the market leader in a broad range of high-quality carbon and graphite products servicing numerous global customers in wide range of industries such as steel, aluminum, autos, semiconductors, and electronic components.
Lead partner Michael Sheng commented, "It was a pleasure to advise our long standing client Cabot on this acquisition in China. We hope it will create opportunities for its continued growth in China."
The Ashurst team was led by Michael Sheng, supported by Daniel Öhvall, Derek Wang and Chloe Xiang. Partner Angie Ng advised on the competition aspect of the deal.