By Michael Dabaie
Cabot Corp. said it would sell its Purification Solutions business to One Equity Partners, a middle market private-equity firm, in a deal valued at $111 million.
Purification Solutions engages in research, development, manufacturing and sale of high-performing activated carbon used environmental, health, safety and industrial applications.
In fiscal 2021, the business generated $257 million in revenue. Cabot anticipates that the transaction will close during its second fiscal quarter of 2022.
The company expects to recognize a pretax impairment charge of $155 million to $165 million in the first quarter in relation to the sale, with net cash proceeds from the transaction expected to be about $80 million.
Cabot backed its full year 2022 adjusted earnings outlook of $5.20 a share to $5.60 a share.
"This transaction will allow us to focus resources on our core business segments and invest in areas where we see strong future growth and innovation potential for Cabot, such as Battery Materials," said Cabot Chief Executive Sean Keohane.
Write to Michael Dabaie at michael.dabaie@wsj.com
"corp" - Google News
November 26, 2021 at 08:31PM
https://ift.tt/3lfbAaX
Cabot Corp To Sell Purification Solutions Business in $111M Deal - MarketWatch
"corp" - Google News
https://ift.tt/2RhVoHj
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Cabot Corp To Sell Purification Solutions Business in $111M Deal - MarketWatch"
Post a Comment