Cabot Receives Favorable Ruling in Tantalum Contract Dispute
BOSTON, June 23 /PRNewswire-FirstCall/ -- Cabot Corporation (NYSE:CBT), today
announced that it received a favorable ruling from the Massachusetts Superior
Court granting Cabot's partial summary judgment motion in its contract action
with AVX Corporation (NYSE:AVX) and upholding Cabot's long- term tantalum
supply agreement with AVX.
(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000323/CABOTLOGO ) Cabot's motion to dismiss a separate Federal Court action filed by AVX,
alleging that Cabot violated the federal antitrust laws in connection with the
supply agreement, is pending in that court.
Throughout the litigation, AVX has continued to purchase tantalum from Cabot in
accordance with the terms of the supply agreement.
Kennett F. Burnes, Chairman and CEO of Cabot Corporation, said, "We are pleased
with the Court's ruling upholding our long-term supply agreement with AVX. AVX
has been a valued customer for many years and we are looking forward to
continuing our relationship in the future." About Cabot Corporation Cabot Corporation is a global specialty chemicals and performance materials
company headquartered in Boston, MA. Cabot produces carbon black, fumed metal
oxides, specialty metals, inkjet colorants, and cesium formate drilling fluids. Cabot has approximately 4,400 employees in 45 manufacturing plants and offices
located in over 20 countries around the world.
Contact:
Dennis Fink
Investor Relations
617-342-6244
http://www.newscom.com/cgi-bin/prnh/20000323/CABOTLOGO http://photoarchive.ap.org/ DATASOURCE: Cabot Corporation CONTACT: Dennis Fink, Investor Relations of Cabot Corporation, +1-617-342-6244, Web site: http://www.cabot-corp.com/
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