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BOSTON (AP) - Specialty chemicals company Cabot Corp. said Friday that a subsidiary has signed a joint venture agreement with China National Bluestar Group to build a fumed silica manufacturing facility in China.
| CBT | 22.98 |  -0.34 |
The joint venture, Cabot Bluestar Chemical Co., will invest about $40 million to build Cabot's fumed silica facility, which will have a manufacturing capacity of about 7,000 metric tons per year.
Fumed silicas are used in a variety of applications such as adhesives, sealants, coatings, inks and toners.
The plant will be located in Tianjin, China.
China National Bluestar is a unit of China National Chemical Corp., a state-owned enterprise better known as ChemChina. Bluestar owns 45 production facilities and 17 research institutes around the world. Cabot and Bluestar have an established relationship that dates back to 2004.
Cabot shares shed 1 cent to $33.35 in morning trading.
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