GAM is a leader in the supply of tantalum ore, which is used by Cabot’s Supermetals business in the manufacture of products to the electronics, aerospace, chemical manufacturing and other industries.

"We are pleased to have reached an agreement with GAM at an attractive value," said Patrick Prevost, Cabot president and CEO. "While we have repositioned the Supermetals business to be a solid contributor to Cabot over the past two years, we believe that the specialty metals nature of this business does not fit the long-term direction for Cabot. GAM's integrated business model will enable them to better manage the historical cyclicality of this business. This transaction allows us to focus our resources on growth initiatives in our other businesses."

Over the past eight quarters, the Supermetals business has recorded an average quarterly EBITDA   of $13 million.

Cabot will maintain its mining operation in Manitoba, Canada where the company mines cesium for its Specialty Fluids Business and tantalum.