Cabot buying Norit for $1.1b
Chemical and specialty products maker Cabot Corp. is buying Norit NV for $1.1 billion in order to strengthen its specialty chemicals portfolio. Norit specializes in activated carbon products, which are used in environmental protection, air and water purification, food and beverages, pharmaceuticals, and catalysts. It has manufacturing operations in Europe and the Americas. Boston-based Cabot is buying Norit from affiliates of Doughty Hanson & Co. Managers Ltd. and Euroland Investments BV.