Plant Closing in Wood County

By: Email
By: Email

Boston-based Cabot Corporation plans to close its carbon black plant in Wood County.

Cabot announced today that 48 employees will lose their jobs when the Waverly plant closes next March.

Carbon black is used to reinforce rubber and Cabot says it's closing the plant because tire manufacturing is shrinking in North America and growing in China and other Asian countries.

Cabot says closing the plant will result in a 22 (m) million-dollar pre-tax charge against earnings over the next two years.

Cabot employs about 45-hundred people at 45 manufacturing plants around the world.

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