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Exhibit 99.1
Press release, dated September 19, 2000, announcing the completion of the sale
of the LNG business.
FOR IMMEDIATE RELEASE
Contact: Eduardo E. Cordeiro
Director, Investor Relations
(617) 342-6244
Ethel Shepard
Manager, Corporate Affairs
(617) 342-6254
Cabot Corporation Completes Sale of
its LNG Unit to Tractebel, Inc.
BOSTON, MA (September 19, 2000) - Cabot Corporation (NYSE: CBT) today announced
the completion of its sale of Cabot LNG, LLC to Tractebel, Inc., the U.S.
subsidiary of Tractebel Group, for $680 million in cash. Tractebel is a global
energy and services business and is the sole arm for the energy activities of
Suez Lyonnaise des Eaux.
"We are very pleased with the successful completion of this transaction," said
Samuel W. Bodman, Chairman and CEO, Cabot Corporation. "Cabot is proud to have
grown the LNG business into a successful and widely recognized leader in the
energy industry. The Company and its shareholders have benefited greatly from
our investment in LNG. We will continue to focus our attention and resources on
growing our core businesses and on developing new opportunities to create value
for Cabot's shareholders."
Cabot LNG imports liquefied natural gas (LNG) from Algeria, Trinidad and other
countries to its marine terminal in Everett, MA where it is distributed as vapor
and liquid to utilities, electric power generators, and industrial end users in
the Northeast United States.
About Cabot Corporation
Cabot Corporation is a global specialty chemicals and materials company.
Headquartered in Boston, MA, Cabot's major products are carbon black, fumed
silica, inkjet colorants, and capacitor materials. Cabot has approximately 4,800
employees in more than 45 manufacturing plants and offices located in 23
countries around the world.
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