Cabot Corporation has entered into an agreement with SICPA to sell its Security Materials business for approximately US $20 million in cash consideration.
Cabot, headquartered in Boston, is a global speciality chemicals and performance materials company. Cabot’s Security Materials, based in Albuquerque, USA, produces anti-counterfeit covert taggant applications.
SICPA, headquartered in Lausanne, Switzerland, is a leading global provider of security inks, authentication and traceability solutions for banknote, and security document industries.
“We are pleased to have reached an agreement with SICPA at an attractive value for our shareholders,” Patrick Prevost, Cabot president and chief executive officer. “The Security Materials business is a leader in covert taggant technology. We believe that SICPA, as a leading player in the security industry, will expand and accelerate the future growth potential of this business.”
The acquisition is expected to close by the end of the 2014 financial period.