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Cabot buying Norit for $1.1 billion

By Michelle Chapman
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NEW YORK (AP) — Chemical and specialty products maker Cabot Corp. is buying the Dutch company 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. The Netherlands-based company has 10 manufacturing plants located throughout Europe and the Americas and 760 employees.

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