Cabot set to buy activated carbon specialist Norit

Cabot Corporation has entered into an agreement to purchase activated carbon specialist Norit from affiliates of Doughty Hanson & Co Managers Limited and Euroland Investments for $1.1bn (£705.4m).

The acquisition strengthens Cabot’s specialty chemicals portfolio with a non-cyclical, high-growth and high-margin business.

Activated carbons are performance materials used in multiple high-end applications, including environmental protection, air and water purification, food and beverages, pharmaceuticals and catalysts.